Why Expedia Group Flew More Than 6% Higher on Friday

After an awful Thursday, shares of online travel giant Expedia Group (NASDAQ: EXPE) rallied to close nearly 6.2% higher the following day. A new, optimistic report on the travel industry could very well have been the catalyst for Friday's improvement.

Utilizing search data for the period of mid-April to early June culled from Expedia, consumer insight consultancy BVA BDRC found that U.S. consumers have increased their intent to travel during the summer months. According to this research, the volume of Expedia travel searches conducted by Americans rose by an average 20% on a week-over-week basis.

This reverses the previous trend, when this activity declined at steady rates in March and the early part of April.

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Source Fool.com