Why TripAdvisor Stock Was Crashing Today
Shares of TripAdvisor (NASDAQ: TRIP) were losing altitude today after the travel-recommendation specialist missed estimates in its third-quarter earnings report, the latest sign the company continues to struggle to find its footing in a fast-changing travel industry. Separately, in a surprise move, TripAdvisor announced a special dividend of $3.50 a share and said it would form a joint venture with Trip.com (NASDAQ: TCOM), the Chinese online travel agency formerly known as Ctrip.
The stock was down 19.5% as of 12:19 p.m. EST.
Image source: Getty Images.
Source Fool.com
