Tripadvisor's stock rose 17% after Starboard Value disclosed a over 9% stake in the company, signaling potential strategic changes, with the investment valued at around $160 million, amidst a period of flat stock performance and previous strategic reviews.
Activist investor Starboard disclosed a 9% stake in Tripadvisor, believing the shares are undervalued, leading to a 17% surge in the stock price. Starboard plans to engage with management to improve the company's valuation. The stake is valued at around $160 million, and the move reflects Starboard's active role in pushing for corporate changes.
After the bell, Cisco, Twilio, and Tripadvisor are among the stocks making significant moves, with Cisco's shares falling after the company reported weaker-than-expected earnings and revenue guidance, while Twilio's stock rose following a strong earnings report. Tripadvisor's shares also surged after the company reported better-than-expected revenue.
Several stocks are making significant moves in premarket trading, including JetBlue Airways, Arista Networks, and Tripadvisor, as investors react to various market factors.