Why Expedia Stock Popped 10% This Morning
Shares of online travel agency Expedia (NASDAQ: EXPE) took flight in early Wednesday trading. Prices surged as much as 10% initially and were still up 7% as of 11:15 a.m. EST after the company filed an 8-K report with the SEC announcing "the resignation of Mark Okerstrom as CEO and a member of the Board of Directors" and also of "CFO Alan Pickerill, effective immediately."
The stock remains down 16% over the past year, and it's still underperforming the S&P 500 by more than 30 percentage points -- but today's news has at least erased some of those losses.
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Source Fool.com
