EXPE Stock Price and Quote: Expedia Group Inc sinks the day after vaccine-related soar

NASDAQ:EXPE drops by 4.58% on Tuesday as broader markets sell-off.
Expedia surged alongside the travel industry on the news of Pfizer’s COVID-19 vaccine trial results.
Expedia beat earnings expectations on a rise in summer travel.

NASDAQ:EXPE investors have finally received some good news after months of training at lower prices due to the COVID-19 pandemic causing a lockdown on global travel. On Monday, the stock gained more than 20% on the news of Pfizer’s (NYSE:PFE) successful coronavirus vaccine candidate clinical trials. On Tuesday, investors sold off on that good news as shares dipped by 4.58% to close the trading session at $122.75. Still, the stock has rebounded over 200% since its March lows of $40.76, so savvy investors who bought during the sudden bear market have reaped the benefits.

Industry rivals saw the same pattern of trading as Expedia from Monday to Tuesday; Booking.com (NASDAQ:BKNG) and Trivago (NASDAQ:TVGO) both fell after their huge spikes. Interestingly, Tripadvisor (NASDAQ:TRIP) continued its surge on Tuesday, as the stock was up by a further 10%. Travel sites were not the only industry to gain off of the news, as the dormant airline and hotel/casino stocks went parabolic as well. It is a welcome sight for investors and travellers as a return to normalcy now seems closer than before.

EXPE Stock Quote

Expedia

It has not been all bad news for Expedia as they did exceed recent expectations for its quarterly earnings from the summer. A gradual rise in summer travel allowed Expedia to recuperate some of its losses from earlier in the year, and while the Pfizer (NYSE:PFE) vaccine news is well received, there's still a way to go for global travel fully re-opening. Investors may have realized their over-exuberance on Monday which would explain the sell-off on Tuesday morning.

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