Tracking the Pivotal Point of Tripadvisor (TRIP): Online Travel Portal Sells the Restaurant Booking Platform for $700 Million
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Tripadvisor operates the world's largest travel guide portal, connecting hundreds of millions of travelers with accommodations, activities, and restaurants. On June 15, the stock experienced a significant price jump. The trigger was a binding agreement for the sale of the European restaurant booking platform TheFork to American Express for $700 million in cash. The deal provides Tripadvisor with substantial financial flexibility. The stock opened at $13.60, climbed as high as $14.20, but couldn't maintain this level by the end of the trading day....
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