Tripadvisor Faces Pressure from Activist Investor
Activist investor Starboard Value took a 9% stake in Tripadvisor, believing its shares were undervalued. Analysts suggest Tripadvisor could sell Viator for $1.7-2.5 billion and TheFork for $362-583 million. Speculation is that Starboard may push Tripadvisor to sell both and repurchase stock, impacting Tripadvisor’s core business. The economic value of Viator and TheFork is up for debate, with potential strategic buyers in the mix. Tripadvisor’s future strategy and potential name change are under scrutiny amidst these developments. 1. The stock market experienced a significant drop today, with the S&P 500 falling by 2.5% and the Dow Jones Industrial Average dropping by 2.8%. This was attributed to concerns about rising inflation and the potential for the Federal Reserve to increase interest rates sooner than expected.
2. In international news, a ceasefire agreement was reached in the conflict between Israel and Hamas, ending 11 days of intense fighting. The agreement was brokered by Egypt and came after mounting international pressure to halt the violence, which resulted in the deaths of over 240 people, mostly in Gaza.
3. The CDC announced updated guidelines stating that fully vaccinated individuals can now go without masks in most indoor and outdoor settings. This comes as vaccination rates continue to rise and COVID-19 cases decline in the United States. Some exceptions to the new guidelines include public transportation and healthcare settings.
4. Apple unveiled its latest product, AirTag, a small tracking device that can be attached to items like keys or wallets to help users locate them using the Find My app. The AirTag uses a combination of Bluetooth and ultra-wideband technology to provide precise location information to users.
5. NASA’s Perseverance rover successfully converted carbon dioxide from the Martian atmosphere into oxygen for the first time on the planet’s surface. This groundbreaking experiment could pave the way for future human missions to Mars by providing a sustainable source of oxygen for astronauts to breathe and fuel to power rockets.
Read more at finance.yahoo.com: What’s Next for Tripadvisor Now That it Has an Activist Investor?