TripAdvisor's stock surged 5.20% in pre-market trading on Tuesday, following reports that activist investor Starboard Value is pushing for significant changes at the online travel company.
Starboard Value, which holds a stake of more than 9% in TripAdvisor, announced its intent to nominate a majority slate of director candidates for election at the company's 2026 annual meeting. The activist investor has delivered a letter to TripAdvisor's board urging the company to explore a potential sale, either as a whole or through multiple transactions, to enhance shareholder value.
The push for a board overhaul and potential sale comes as TripAdvisor's stock has faced significant pressure, having fallen nearly 46% over the past year amid disappointing earnings and concerns about artificial intelligence diverting traffic from its website. Starboard has previously argued that TripAdvisor is undervalued compared to online travel peers and has suggested the company should consider selling its restaurant booking platform, TheFork.
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