Starboard Value CEO Jeff Smith, at the the13D Active-Passive Investor Summit this morning, said TripAdvisor (TRIP) should consider selling itself or itsTheFork division to unlock value shareholders. Smith believes TripAdvisor has a strong brand and would appeal to several potential buyers. In addition, a divestiture of TheFork would help improve the company’s overall valuation, Smith added. Shares of TripAdvisor are up 6% to $17.55 in early trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TRIP:
- Midday Fly By: AWS hit by outage, Kering sells beauty unit
- Starboard to detail need for change at Tripadvisor, Reuters reports
- Starboard Value Takes Aim at Tripadvisor: What Activist Pressure Could Mean for TRIP Stock
- TripAdvisor put volume heavy and directionally bearish
- TripAdvisor initiated with an Underperform at Mizuho
