TripAdvisor Shares Down

TripAdvisor shares finished down on its first day trading on the Nasdaq yesterday.

The company, whose split from Expedia has been expected throughout 2011, is trading under the symbol TRIP.

 

On launch yesterday Stephen Kaufer, TripAdvisor CEO, rang the Nasdaq opening bell.  The shares were offered at $30 but fell sharply to a low of $27.51,  ending the day at $27.67.

The breakup of Expedia and TripAdvisor has created two distinct companies, although TripAdvisor continues to receive referral fees by promoting Expedia travel businesses on its website.  But free to trade independently of Expedia, TripAdvisor is now in a stronger position  to negotiate deals with other travel agencies.

 

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