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Why Trivago Shares Plunged 12.9% on Monday

TheMotleyFool

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Why Trivago Shares Plunged 12.9% on MondayPhoto, wide shot, wide-angle lens, Fashion store, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.theapi.app/temp/4103ce22-87d6-4bef-ba44-0baf5ab280bb.png

Shares of internet travel company Trivago (NASDAQ: TRVG) fell as much as 12.9% in trading Monday as investors questioned how much the company's business will suffer as the COVID-19 outbreak spreads. At 2:40 p.m. EDT today, shares were still down 9.5%, and are down 39.2% in the last month.

Trivago's shares plunged as the market realizes that the COVID-19 shutdown may last a lot longer than originally expected. Over the weekend, the president of the St. Louis Fed, James Bullard, said that unemployment may reach 30% and GDP could drop 50% if the pandemic continues. Meanwhile, Gov. Andrew Cuomo of New York said the pandemic could last nine months.

Image source: Getty Images.

Source Fool.com

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