US Stock Market Move | TripAdvisor, Inc. (TRIP.US) rises more than 18%, with aggressive investor Starboard Value acquiring over 9% stake.

On Thursday, the stock price of TripAdvisor, Inc. (TRIP.US) surged, rising over 18% to $17.7 per share as of the time of writing. In terms of news, the aggressive investment firm Starboard Value disclosed in a securities filing that it now holds over 9% of TripAdvisor, Inc.'s shares. The value of this stake was approximately $160 million at the close of trading on Wednesday. In fact, TripAdvisor, Inc. had already announced last year that it had established a special committee to explore strategic options, including potential sales, divestments, or other structural reforms. The involvement of Starboard Value has added more variables to the company's strategic direction. Starboard Value is known for its activist approach, often pushing for corporate governance changes through large-scale shareholdings and making recommendations such as CEO replacements or cost reductions. Recently, the company reached a settlement in a boardroom proxy fight with software giant Autodesk, successfully gaining two board seats. Prior to this, Starboard has also pressured companies like Tinder's parent company Match Group (MTCH.US), pharmaceutical giant Pfizer Inc. (PFE.US), and Salesforce, Inc. (CRM.US) to drive internal reforms.