Expedia Continues Rallying After Earnings Beat

Yesterday, online booking site Expedia

. The earnings were far above analyst expectations, and shares rallied significantly. Shares continued to rally into the morning, and the company opened significantly higher (currently trading up nearly 30%). The significant short interest may have helped to elevate shares even further, as traders caught short were forced to cover. If that is the case, traders might expect to see a slight pullback as the price action moderates. Still, the beat in Expedia was perhaps enough to move other stocks. Priceline

is currently trading up about 3% on seemingly no news, suggesting that shares may have been pulled up Expedia.