Why Trivago Shares Plunged 12.9% on Monday
Shares of internet travel company Trivago (NASDAQ: TRVG) fell as much as 12.9% in trading Monday as investors questioned how much the company's business will suffer as the COVID-19 outbreak spreads. At 2:40 p.m. EDT today, shares were still down 9.5%, and are down 39.2% in the last month.
Trivago's shares plunged as the market realizes that the COVID-19 shutdown may last a lot longer than originally expected. Over the weekend, the president of the St. Louis Fed, James Bullard, said that unemployment may reach 30% and GDP could drop 50% if the pandemic continues. Meanwhile, Gov. Andrew Cuomo of New York said the pandemic could last nine months.
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Source Fool.com
