For years, Priceline has been the darling of the travel industry within the financial investment community, reaching an eye-watering market capitalisation of close to $30 billion.
But one set of marginally wobbly financial results - when CEO Jeff Boyd explained away lower-than-expected estimates being due to the effects of the ongoing financial woes inflicting many European countries – was enough to send the company’s share price tumbling.
Less than 24 hours after the results were announced, stock had slumped by around 15% – a figure probably large enough to send (ex?) marketing frontman William Shatner tumbling off a cliff.
Read full story at: http://www.tnooz.com/2012/08/08/news/bombshell-is-the-priceline-growth-machine-decelerating/
