Why Expedia Group Stock Popped 12% on Wednesday
Shares of Expedia Group (NASDAQ: EXPE) jumped as much as 12% on Wednesday after rumors spread that the online travel specialist could receive a $1 billion investment. As of 2:40 p.m. EDT, the stock was up 7.6%.
The Wall Street Journal is reporting that Expedia is in talks with private equity firms Silver Lake and Apollo Global Management regarding a $1 billion investment. Terms of a potential deal aren't yet known, but liquidity to get through the current downturn in travel and consumer discretionary spending would be welcome news for Expedia.
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Source Fool.com
