Why Tripadvisor Stock Was Soaring Today
Shares of Tripadvisor (NASDAQ: TRIP) were moving higher Tuesday after the company said that it had formed a special committee to evaluate potential offers to buy the company or related transactions. As of 12:25 p.m. ET, the stock was up 12.4%.
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The board's decision came in response to interest from Liberty Tripadvisor (NASDAQ: LTRPA), which owns 21.1% of the stock, and has also said it was evaluating potential alternatives for Tripadvisor, meaning it could acquire the company.
Source Fool.com
