Trivago Trounced After Issuing Lower Guidance

Trivago NV - ADR TRVG shares are trading lower by $3.08, 21 percent, at $11.85 in Wednesday's session.

The catalyst for the decline of the online hotel search platform is lower guidance. It updated its FY 2017 sales guidance and it's "softer" than planned at $1.26 billion compared with estimates of $1.36 billion.

After reacting to the overnight price movements, Trivago opened much lower and continued until it found a bottom at $10.43 and began to rebound. Based on the price action since it has been listed in the United States, that eclipses the former all-time low of $10.88 from January.

Trivago's stock rebounded to make a new high for the day at $12.06, but has fallen back into the upper $11.00 handle.