Expedia's Record-Breaking Stock Surge and Buyback Initiatives
TL;DR
Michael Burry's hedge fund, Scion Asset Management, increased its holdings in Expedia earlier this year, and the bet is paying off as the stock soared over 18% to a three-month high. The surge was driven by Expedia's impressive third-quarter earnings beat and record revenue, as well as the announcement of a $5 billion stock buyback plan. Burry's investment in Expedia has resulted in a profit of over $3 million.
- Michael Burry's third-biggest stock position soars 18% in a day Finbold - Finance in Bold
- Expedia (EXPE) Shares Jumped Most in Three Years on Upbeat Quarterly Results Bloomberg
- Expedia, Restaurant Brands, Redfin: Top Stocks Yahoo Finance
- Expedia's Gains May Soon Evaporate - TheStreet's Real Money Pro RealMoney
- Expedia: $5 Billion Share Buyback Amidst Record-Low Valuation (NASDAQ:EXPE) Seeking Alpha
- View Full Coverage on Google News
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