TripAdvisor: S&P 500’s Top Gainer on February 6

The S&P 500’s top gainers on February 6 were:

• TripAdvisor (TRIP) rose 14.7%.
• Micron Technology (MU) rose 11.4%.
• Skyworks Solutions (SWKS) rose 10.4%.
• Newell Rubbermaid (NWL) rose 10.1%.
• Tapestry (TPR) rose 9.0%.

TripAdvisor, which is an American travel and restaurant website that provides hotel and restaurant bookings and reviews, was the S&P 500’s top gainer on February 6. After declining to two-month low price levels last week, TripAdvisor regained strength this week and started on a stronger note. Carrying forward the strength, TripAdvisor surged to the highest levels traded since October 10, 2017, on Tuesday.

The buying pressure in TripAdvisor improved after Jay Hoag was appointed as a board member. Hoag is the co-founder of Technology Crossover Ventures. He also serves as a board member for Zillow, Netflix, and Electronic Arts. The market’s speculation about a possible takeover of TripAdvisor also boosted the stock. Takeover speculations skyrocketed and supported the stock. SunTrust Robinson Humphrey upgraded TripAdvisor’s target price from $34 to $37.

On February 6, TripAdvisor gained 14.7% and closed the day at $40.84.

In the next part of this series, we’ll discuss how Micron Technology (MU) and Skyworks Solutions (SWKS) performed on Tuesday.