Why TripAdvisor Stock Fell 17% This Week
TripAdvisor (NASDAQ: TRIP) shareholders endured a brutal trading week this week. The stock fell 17% through Thursday trading compared to a 6% slump in the S&P 500, according to data provided by S&P Global Market Intelligence. The drop pushed the vacation travel platform's stock deeper into the red for 2022, down 33% so far.
It was sparked by rising worries on Wall Street that travel demand, after rebounding this summer, will decline over the coming quarters.
TripAdvisor didn't make any corporate announcements this week. In fact, its last earnings update in early May had investors feeling better about its prospects heading into the seasonally strong summer months.
Source Fool.com
