Can Ctrip and Despegar.com Bounce Back After Last Week's Drop?
It was a rough week for a couple of international travel portals. Shares of China's Ctrip (NASDAQ: CTRP) and Argentina's Despegar.com (NYSE: DESP) declined 12% and 11%, respectively, last week, but the slides were not related.
Despegar moved lower despite a bullish analyst initiation to kick off the week. There was no material news out of Ctrip, but Brightwire is reporting that its chairman is considering charging for flight bookings, a move that would increase revenue but possibly at the expense of nudging more users to book directly with airlines.
Source: Fool.com