Why Shares of Expedia Rose 26.1% in April
Shares of Expedia (NASDAQ: EXPE) rose 26.1% during the month of April, according to data from S&P Global Market Intelligence. The online travel agency had been extremely hard hit in March, as travel bookings essentially tumbled to almost nothing amid the outbreak of coronavirus.
However, Expedia was able to raise a significant amount of capital in April, including $2.75 billion in new debt from the bond market and $1.2 billion in preferred stock and warrants from private equity firms Apollo Global Management and Silver Lake. Investors cheered the money raise, as most suspect it will get Expedia to the other side of the outbreak.
Image source: Getty Images.
Source Fool.com
