Tripadvisor stock price 11% up at pre-opening on Nasdaq. Will it surge again?
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.
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.
Stay informed on Business Newsalong withGold Rates Today, India News and other related updates on Hindustan Times Website and APPs
