Tripadvisor stock surges 17% as Starboard Value builds sizable stake in online travel company
Tripadvisor shares jumped 10% after Starboard Value revealed a more than 9% stake in the online travel company, according to a securities filing.
The position was valued at about $160 million as of Wednesday's close.
Tripadvisor shares have been flat since the start of the year after plummeting more than 30% in 2024. Last year, the travel review and booking company said it created a special committee to explore potential options.
Starboard Value has gained a reputation for pushing for changes such as new CEOs and cost cuts by acquiring significant shares in companies.