Trivago stock plummets to all-time lows after CEO departure, earnings
Trivago NV shares dropped as much as 24% to their lowest prices on record Tuesday, after the online-travel website announced continuing revenue declines and the departure of its founder as chief executive. Trivago shares, which sold for $11 apiece in a late-2016 initial public offering, traded for as little as $2.57 Tuesday after closing Monday at a then-record-low $3.39. Trivago announced=2019|NEW] before trading began Tuesday that CEO and founder Rolf Schrömgens would leave the top position at the end of the year and be replaced by Chief Financial Officer Axel Hefer. The company also reported quarterly earnings=2019|NEW], which showed revenue declining year-over-year for the sixth consecutive quarter. The stock has now lost half its value so far in 2019, falling 50% as the S&P 500 index has gained more than 22%.
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