Ctrip.Com International Ltd (GDR) (NASDAQ: CTRP) was having a relatively normal day in the market today, trading on slight gains. However, that all changed minutes ago as a probe into hidden costs started hitting the wire. The probe led to fear among investors and declines in the stock, prompting our partners at Trade Ideas to alert us to the movement. At the moment (11:59), CTRP is trading at $48.52 per share after a loss of $0.47 per share (0.95%) thus far today.
CTRP Falls On Probe Into Hidden Costs
As mentioned above, Ctrip.com is having a rough time in the market at the moment, and for good reason. The company is being probed by China Consumers Association. Currently, accusations are surfacing with regard to the company adding hidden costs to their air ticket prices. Of course, any time there’s a report of possible wrong-doing at a company, the stock that’s representative of the company tends to fall. That’s exactly what we’re seeing.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CTRP. In particular, we’re interested in learning more about the probe into the company and whether or not the allegations are true. We’ll continue to follow the story closely and bring the news to you as it breaks!
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