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Financial results from a rival could presage a pleasantly surprising quarter for Tripadvisor.
Shares of online travel company Tripadvisor (TRIP 2.45%) jumped by 10.7% in October, according to data provided by S&P Global Market Intelligence — but I’m afraid there’s not a satisfying explanation for the move. Other travel stocks such as Booking Holdings, Expedia, and Airbnb were up in October by comparable amounts. It seems that investors just had an appetite for companies in the space.
To be clear, Tripadvisor didn’t report any news last month, nor did analysts publish any reports on the company. The stock trended higher without an obvious catalyst.
Perhaps the most bullish news regarding Tripadvisor had to do with insider stock sales. CEO Matt Goldberg and Chief Accounting Officer Geoffrey Gouvalaris both were granted stock options in October, and both promptly sold shares. But neither of them sold all of their newly awarded shares….
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