TCOM - Why Trip.com Group Limited Stock Was Down This Week
Trip.com (NASDAQ: TCOM) investors lost ground to the market this week. The Chinese travel specialist fell 14% through Thursday trading, according to data provided by S&P Global Market Intelligence , compared to a 0.8% increase in the wider market. That didn't derail Trip.com's wider positive performance, though, as shares are still comfortably beating the 23% decrease in the S&P 500 so far in 2022.
Its outperformance gap shrank this week, though, due to worries about the impact a global growth slowdown might have on its core travel markets.
The International Monetary Fund this week downgraded its estimate of economic growth in 2023. That news initially helped send stock much lower on Tuesday, particularly in the travel industry . The IMF cited decelerating growth in China as a key factor behind its lowered outlook, so it makes sense that Trip.com's stock would react to the prospect of weaker sales.
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Why Trip.com Group Limited Stock Was Down This Week