Few sectors have been hit harder by the coronavirus pandemic than travel thus far. Coming into its third-quarter report, its third update during the crisis, Trivago (NASDAQ:TRVG) investors may have been looking for signs of an inflection point, following a dismal second quarter. The stock popped briefly earlier this week after the company released solid third-quarter earnings numbers as shares opened 12.6% higher. However, the hotel-booking specialist quickly gave up most of those gains, though it was unclear why.
Revenue in the quarter tumbled 76% to $70.9 billion, which missed estimates at $81.9 million.