Shares of the trivago N.V. (TRVG) stock became bullish in the premarket trading session on December 2, 2021. TRVG stock price saw a push of 3.40% to reach $2.13 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 3.74% at closing. Let’s understand the reason behind this rally.
What’s Happening?
There seems to be no press release or any announcement by the TRVG stock to support the bullish sentiment. It seems that the stock is hot among investors on the social media platforms like Reddit, Stock twits, etc. due to which the stock is getting hype in the premarket. For your intuition, let’s discuss what really trivago stock is and its some recent events.
trivago N.V. is operating as the hotel and accommodation search platform in the United States and across the globe. The company has a market value of $766.66 million and a 903,129 average trading volume.
Partnership between TRVG stock and HUAWEI:
In the last week of October, TRVG stock did announce its partnership with HUAWEI to develop the travel products for use on the HUAWEI Mobile Services Platform. Trivago stock will launch a new app on HUAWEI’s app gallery. The users of the app will be able to compare millions of accommodations across the globe from various booking sites. Thus, they are now able to find an ideal place at a reasonable price. Over 5 million hotel and alternative accommodation options are available for 190 countries in the trivago platform. The launch of the trivago app in the HUAWEI platform is a positive sign for the company as HUAWEI has more than 580 million monthly active users in over 170 countries.
Financial View of the TRVG stock:
In the first nine months of TRVG stock, ADR revenues surged EUR272.3 million. The company recorded a net loss of EUR4.5 million, 98% less than the comparable period of the previous year. In the third quarter of 2021, TRVG stock reported a net income of 5.53 million euros. This compares to a loss of 2.31 million euros in the same period of the previous year. Earning per share of the stock was 0.01 euro as compared to 0.01-euro loss in the comparable period of the previous year.
Wrap Up:
The market sentiment is positive for the TRVG stock, and it would be interesting to see how long it will persist as the stock market is highly unpredictable. In the last six months, the stock has lost almost 46% however, it lost 9.25% year to date.
