Trip.com Group Limited (TCOM) experienced a 24-hour plunge of 5.01% during the night session on Thursday, reflecting significant selling pressure on the stock.
The decline appears to be driven by negative analyst actions, including a downgrade from Macquarie from Outperform to Neutral with a price target of $44.30. Additionally, Citi lowered its price target on Trip.com to $64 from $82, although it maintained a Buy rating on the shares.
These analyst moves suggest reduced confidence in the company's near-term prospects and have contributed to the downward pressure on the stock price during the trading session.
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