Sumary of Trip.com Gains After Reversing COVID-19 Loss Amid China Economic Recovery:
- [+] Shen/Bloomberg © 2021 Bloomberg Finance LP Shares in Trip.com Group, China largest on-line travel service, ended last week higher after company said first-quarter earnings reversed to a profit after a big Covid-19-related loss a year earlier..
- “Since the beginning of 2021, a few waves of COVID-19 infections have re-emerged in various regions of China, and precautionary measures, including varying levels of travel restrictions and encouragement of reduced travel during the Chinese New Year, have been reinstated in China,”.
- “These travel restrictions reduced users’ demand for the company’s products, and materially and adversely affected its results of operations in January and February of 2021.”.
- Trip.com U.S.-traded shares have now soared by approximately 80% from their lows during the worst of the pandemic at the beginning of 2020…