TripAdvisor, Inc. (TRIP) Stock | Announces Instant Booking Partnership with Priceline

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TripAdvisor, Inc.  (NASDAQ : TRIP)

 

TripAdvisor, Inc. (TRIP), an online travel company yesterday announced a partnership with The Priceline Group. The partnership will allow brands of The Priceline Group to be able to participate on Trip Advisors instant booking platform.

 

TripAdvisor, Inc. CEO Comments

“Having The Priceline Group join the instant booking platform is a huge win for travelers and we couldn’t be more thrilled to have them as our first strategic, global online travel agency partner,” said Stephen Kaufer, president and CEO of TripAdvisor. “Millions of TripAdvisor users coming to the site to plan, compare prices and book their trip will be able to instantly book options from The Priceline Group’s global hotel inventory in addition to the 235,000 properties that are already instantly bookable on TripAdvisor.”   Globe Newswire

 

TRIP Technical Analysis

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TRIP gapped up in price yesterday to $81.94, up from the prior day’s close of $66.69 which is a 23% increase in price based on favorable news. Taking a look at the daily chart, we can see the last time the stock traded above this price level was on July 23rd when the stock closed at $93.97. On that occasion, the stock tanked all the way to $80.86 on the next day of trading, or equivalent to a 14% drop in price. Since that big drop in price back in July the stock continued its downward trend till it hit its 52 week low of $62.24 on September 29th. As we can see, the stock is capable of making big moves in a short period of time. The stock traded on over 7.5 times the normal daily trading volume. TRIP did reach pre market highs of $84.40 but opened lower and gaving back $2.46 at the open, or, equivalent to 3%. For trading purposes, my entry point would have been $82.00 looking for a run through $83. My stop loss would have been $81.75 fearing anything below that and the stock would start to fill in the gap up.

 

Company Profile

TripAdvisor, Inc. operates as an online travel company. The company operates through two segments, Hotel and Other. Its travel research platform aggregates reviews and opinions about accommodations, destinations, activities and attractions, and restaurants that enable consumers to plan and book hotels, vacation rentals, flights, activities and attractions, and restaurants. The company operates TripAdvisor-branded Websites that include tripadvisor.com in the United States; and localized versions of the Website in 45 countries, including in China under the brand daodao.com. The company’s TripAdvisor-branded Websites feature approximately 200 million reviews and opinions on 1.6 million accommodations, including approximately 9,15,000 hotels and accommodations; and 6,50,000 vacation rentals, as well as 2.4 million restaurants and approximately 5,00,000 attractions in 1,47,000 destinations worldwide. It also manages and operates 24 other media brands that provide travel planning resources across the travel sector, including airfarewatchdog.com, bookingbuddy.com, cruisecritic.com, everytrail.com, familyvacationcritic.com, flipkey.com, gateguru.com, holidaylettings.co.uk, holidaywatchdog.com, independenttraveler.com, jetsetter.com, thefork.com, niumba.com, onetime.com, oyster.com, seatguru.com, smartertravel.com, tingo.com, travelpod.com, tripbod.com, vacationhomerentals.com, viator.com, virtualtourist.com, and kuxun.cn. TripAdvisor, Inc. was founded in 2000 and is headquartered in Newton, Massachusetts.  Yahoo Finance

 

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