Online Travel Sites Feeling Brunt of Virus Selling
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By Kim Khan
Investing.com – TripAdvisor fell sharply Thursday as online travel stocks as a group felt the impact of Covid-19 with more and more business and personal travel plans canceled.
Casino stocks with Macua exposure were the first stock sector really hard hit on virus worries, when focus was solely on China. Cruise ships were the next to see sharp selling, followed by airlines that canceled flights and now online hotel and flight booking companies.
TripAdvisor (NASDAQ:TRIP) sank more than 8% in midday trading. It’s down more than 28% year to date.
Expedia (NASDAQ:EXPE) fell 4% and Booking Holdings (NASDAQ:BKNG) was down 4.3%.
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