How Did Expedia’s Stock Price React to This Change?
Expedia stock fell
On the day that Dara Khosrowshahi’s departure was announced, Expedia (EXPE) stock fell as much as 4.5%. The fall was natural because investors weren’t certain about Expedia’s future. However, the confirmation of Mark Okerstrom as the new CEO assured investors of business continuity. Since then, the stock has recovered most of its losses. The stock has risen almost 3.3% since the announcement.
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On September 5, 2017, Expedia stock has risen 30.9% YTD (year-to-date) and reached $148.23 as of the close on Friday. Expedia has outperformed all of its rivals including Priceline (PCLN), TripAdvisor (TRIP), and Ctrip.com (CTRP).
Priceline stock rose almost 26.2% during the same period. Ctripcom has risen 26.6% YTD. TripAdvisor continues to underperform. It has fallen 7.8% during the same period.
The consumer discretionary sector is tracked by the Consumer Discretionary SPDR ETF (XLY). XLY has gained 10.7% YTD as of September 1, 2017. The broader market tracked is by the S&P 500 ETF (SPY), which has risen 10.9% during the same period.