Tripadvisor stock price 11% up at pre-opening on Nasdaq. Will it surge again?
Tripadvisor is a leading online travel platorm and offers 1 billion reviews and information on accommodations, restaurants, experiences, airlines, and cruises.
Tripadvisor's stock was trading at a high of 3.04 per cent after the online travel company said it has formed a special company to explore a possible deal.
On Nasdaq, the shares of Tripadvisor had closed at $22.37, a 3.04 per cent higher than the previous day's close. On Tuesday, the shares in pre-market hours were trading at $24.87, i.e over 11 per cent higher than Monday's close. The company's current market cap stands at $3.44 billion.
Tripadvisor app is seen on a smartphone (REUTERS)
{{^htLoading}} {{/htLoading}}
As far as Tripadvisor's panel is concerned, Centerview Partners will act as the financial adviser to the special committee, which will also look into the recent Liberty TripAdvisor Holdings' disclosure of its intent to evaluate potential alternatives involving the two companies, Reuters reported.
Liberty TripAdvisor, an entity created at the time of the spin off of Tripadvisor from Liberty Interactive, owns a 21% stake in the online travel agency.
"Liberty TripAdvisor is heavily indebted with a market cap of $89 million vs debt of $2.75 billion," Bernstein analyst Richard Clarke wrote in a note.
The travel website is scheduled to report earnings on Feb. 14. Analysts expect revenue of $374.4 million and earning of 22 cents per share, according to LSEG data.
Tripadvisor, the Massachussetts-based company, is a leading online travel platorm and offers 1 billion reviews and information on about 8 million accommodations, restaurants, experiences, airlines, and cruises, the Nasdaq website stated.
In 2021, 61% of revenue came from the company's hotel, media, and platform segment, the Nasdaq website added.
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Home/Business/Tripadvisor stock price 11% up at pre-opening on Nasdaq. Will it surge again?
{{^htLoading}}
Advertisement
{{/htLoading}}
SHARE THIS ARTICLE ON
{{#usCountry}}{{/usCountry}}
Hindustantimes wants to start sending you push notifications. Click allow to subscribe
