Why Expedia Stock Lost 26% in November
Shares of Expedia Group (NASDAQ: EXPE) trailed the market last month, falling 26% compared to a 3.4% uptick in the S&P 500, according to S&P Global Market Intelligence. The slump put shareholders in negative territory for the year, with the stock down over 10% compared to the broader market's 23% increase.
The catalyst for November's drop was a third-quarter earnings report that investors panned. Sales and profits both came in below expectations thanks to soft booking trends. Management cited a few factors behind the slowdown, including weaker search engine traffic and reduced average prices at hotels. These issues combined to harm the vacation stock's profitability, and so operating income fell 7%.
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Source Fool.com
