Courtesy of Benzinga.
Priceline Group Inc (NASDAQ: PCLN) shares are trading lower by $157 (8 percent) at $1892.00 in Wednesday’s session.
The stock, which made an all-time high on Tuesday ($2067.99) is deep in the red, after not beating by enough (Q2 EPS beat of 94 cents with a slight revenue) to meet the Street’s lofty expectations.
After a lower open, Priceline staged nearly a $10.00 rebound but found sellers at $1919.99 and continued its move lower. The ensuing decline took it under $1900.00 to $1875.08 and is attempting to rebound.
That marks the lowest level for the stock since it bottomed on July 7 at $1873.86. The previous day (July 6) is the last time it closed under $1900.00, when it ended that session at $1872.30.
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