Monday, June 18, 2007

Expedia rumour of the week, month, year

They are denying it all over the place but the media rumour is that something special must be driving the huge 52 week high in Expedia's stock price. BusinessWeek reports that Expedia is denying both a full privatisation and a spin-off of Tripadvisor. But Forbes is quoting Stifel Nicolaus analyst Scott Devitt who wrote that there

was speculation in morning trading that Expedia is working on a deal that would take the company private at $30 a share, spin off its TripAdvisor business and eliminate 400 jobs.

I have heard nothing either way but did see that the stock price, while at a 52 week high, is almost exactly where it was 104 weeks (ie two years) ago (here is the yahoo finance chart). So it could just be that the good times for the economy and online travel are continuing to role and the Expedia stock price is bouncing back without any special help.

1 comment:

Travolution Blogger said...

Expedia and TripAdvisor still denying here, too.