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It hasn't been a great year for Trip.com (TCOM) shareholders. After a rally of 34% late last year, TCOM has given up almost all of its gains after the Wuhan virus scare, which pushed the stock down 20%. There are bulls who think that the problem is only temporary, therefore, this represents a good buying opportunity, but we believe the severity of the situation is still underestimated. As such, we have shifted our rating from buy to sell.