TripAdvisor Inc (NASDAQ:TRIP) stock took a dip Friday as the company may be up for grabs in the coming months.
Over the last year, the company’s market value has dropped from around $9 billion to $5.7 billion. It is unclear if the company will be seeking a merger with a major tech or e-commerce business, but TripAdvisor Chairman Greg Maffei said back in March that companies such as Facebook Inc (NASDAQ:FB), Amazon.com, Inc. (NASDAQ:AMZN) and Alibaba Group Holding Ltd (NYSE:BABA) could be suitors.
The site amasses more than 415 unique monthly users on average. Another hint at a potential takeover is the fact that TripAdvisor’s key executives who may depart as a result of a merger have improved the company’s executive exit packages if they are with the company or leave when such a move happens.
Jefferies Group LLC has downgraded the stock on these rumors, cutting its price target to $35 ahead of the weekend.
TRIP shares fell 3.5% on Friday.