Activist investor’s move sparks renewed optimism for turnaround
Shares of Tripadvisor jumped 17% on Thursday after activist hedge fund Starboard Value disclosed a more than 9% stake in the online travel platform, according to a securities filing. The position, valued at roughly $160 million as of Wednesday’s close, signals growing investor interest in reshaping the company’s trajectory.
The news sent Tripadvisor stock soaring in its best single-day performance in months. The company’s shares had remained stagnant in 2025 following a more than 30% drop last year. Thursday’s spike suggests investors see Starboard’s involvement as a potential catalyst for change.
Tripadvisor acknowledges investor interest
In a statement to CNBC, a Tripadvisor spokesperson said the company values “constructive engagement with all of our shareholders” and is focused on building long-term shareholder value. The company reaffirmed its commitment to expanding its position as “the world’s most trusted source for travel and experiences.”
Tripadvisor’s board had previously formed a special committee in 2024 to explore strategic alternatives, including potential deals or restructuring options, following prolonged stock underperformance.
Starboard’s activist track record draws attention
Known for its aggressive campaigns to drive corporate reform, Starboard Value has influenced major changes at firms such as Autodesk, Match Group, Salesforce, and Pfizer. In its most recent move, it secured two board seats at Autodesk following a proxy battle.
While Starboard declined to comment on its plans for Tripadvisor, the firm’s history suggests it may push for leadership changes, cost cuts, or a renewed focus on profitability.
Analysts are watching closely to see if the firm advocates for a spin-off, restructuring, or a sale of part of Tripadvisor’s portfolio. With Starboard now a major shareholder, expectations for a strategic shift are likely to grow.
Stock outlook improves amid activist pressure
Tripadvisor’s sharp rally on Thursday positions it for potential further gains if Starboard begins to push for changes. Investors are betting that a new activist influence could unlock value from the travel company’s extensive brand portfolio, which includes Viator and TheFork.
