Tripadvisor Inc Common Stock (NASDAQ: TRIP)
Tripadvisor was off to a relatively normal day in the market today. That is, until minutes ago when the stock spiked in a big way, prompting our partners at Trade Ideas to send an alert about the growth. The gains seem to be the result of a rumor that’s surfacing. Nonetheless, the stock is trading at $42.20 per share after a gain of $0.80 per share or 1.93%.
PCLN Rumored To Be Taking TRIP Over
As mentioned above, Tripadvisor was having a relatively normal day in the market until a rumor broke just minutes ago, causing rocket-like upward movement. The rumor that broke is that Priceline may be acquiring the company relatively soon. However, we do not believe that there is any validity to the rumors.
While TRIP and PCLN would definitely sync up well together, the rumor just doesn’t seem to hold weight. There is no suggestion of what the price might be, nor has there been any reports of interest in this deal from either company as of late. This is the first we’re hearing of it, and the source is social media, making it nearly impossible to pin down the original source. All in all, things just aren’t adding up.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TRIP. In particular, we’re interested in learning more about the potential takeover by PCLN. Of course, we don’t believe that there’s any validity to the rumor, but we can’t see into the future. So, anything could happen. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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[Image Courtesy of Flickr]