W - Why TripAdvisor Stock Dropped This Week
2023-08-04 08:49:48 ET
Shares of TripAdvisor (NYSE: W) trailed the market by a wide margin this week, shedding 14% through Thursday trading compared to a 2% decline in the S&P 500 . That decline pushed shares further into negative territory for the year, according to data provided by S&P Global Market Intelligence . The wider market, meanwhile, is up 17% so far in 2023.
The slump this week came after TripAdvisor announced its second-quarter earnings that showed struggles in some parts of its travel booking business.
Most of the business performed as management had expected in the period that ran through late June. TripAdvisor saw strength in its experiences segment that includes things like tours and restaurant bookings.
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Why TripAdvisor Stock Dropped This Week