In This Article:
We recently published a list of These 10 Firms Were Thursday’s Top Performers. In this article, we are going to take a look at where Tripadvisor, Inc. (NASDAQ:TRIP) stands against other firms that were Thursday’s top performers.
Wall Street’s main indices closed higher again on Thursday, with the Dow eking out a 0.92-percent gain, while the S&P 500 and Nasdaq Composite grew 0.53 percent and 0.22 percent, respectively.
Ten companies, predominantly under the health, energy, and technology sectors—mirrored the gains on the back of stronger earnings performance and other catalysts fueling buying appetite.
Thursday’s top advancers only considered the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A family boarding an airplane with their suitcases, symbolic of the company's reach into the global travel industry.
Tripadvisor, Inc. (NASDAQ:TRIP)
Online travel app Tripadvisor, Inc. (NASDAQ:TRIP) saw its share prices surge by 13.91 percent on Thursday to close at $17.93 apiece as investors repositioned portfolios following news that a company placed a higher bid for their acquisition.
Last December, TripAdvisor (NASDAQ:TRIP) and its parent struck a merger arrangement allowing TripAdvisor to acquire Liberty TripAdvisor for about $435 million. The companies said the transaction, which was scheduled to close in the second half of this year, aims to simplify TripAdvisor’s capital structure and reduce its outstanding shares.
In a proxy statement filed with the SEC regarding the merger on Thursday, Liberty TripAdvisor called upon its shareholders to approve the proposed transaction in a special meeting of shareholders to be held virtually on a yet-to-be-determined date.
Overall, TRIP ranks 3rd on our list of firms that were Thursday’s top performers.. While we acknowledge the potential of TRIP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TRIP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.