Why Trivago Stock Plummeted Today
Shares of Trivago (NASDAQ: TRVG) have plummeted today, down by 12% as of 11:35 a.m. EST. The decline comes as Morgan Stanley analyst Brian Nowak reiterated an equalweight (equivalent to neutral) rating while modestly increasing his price target from $2 to $2.10. The stock is now trading right around that valuation estimate.
Trivago shares have been rallying strongly in recent weeks along with other travel-related companies on hopes about an end to the COVID-19 pandemic. Pharmaceutical and biotech companies have been announcing progress on three separate vaccine candidates that have demonstrated encouraging effectiveness in early trials.
Image source: Trivago.
Source Fool.com
