The activities of retail traders from the social media platform Reddit have resulted in remarkable gains for certain stocks this year. One of the targets of those traders was the stock of the travel-related website Trivago NV (NASDAQ: TRVG).
The stock has performed impressively this year so far and managed to deliver gains of as big as 100% on the back of such speculative trading. The Reddit users had targeted the Trivago stock back in February after the company announced its financial results for the fourth quarter.
The company’s revenues tanked in a big way in the fourth quarter and while that was expected, Trivago stated that it was optimistic about the possibility of a recovery in the travel industry in 2021. That might have been the necessary trigger for investors on Reddit to target the stock. A strong rally ensued soon after and up until now, the stock has managed to hold its own.