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Priceline On The Decline After Q1 Report

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Priceline's Decline Finds Support In A Familiar Area

Priceline Group Inc (NASDAQ: PCLN) shares are trading lower by $80.00 (4 percent) at $1831.13 in Wednesday's session.

After Tuesday's close, the company reported a Q1 beat of $0.99 but came up shy for revenues by $30 million. The Street appears to be putting much more emphasis on the revenue shortfall as opposed to the solid EPS beat.

Priceline's much lower opening tick of $1853.78 has turned out to be the exact high for the session. The follow-through on the decline took the stock to $1801.00, but it managed to rebound to the $1820.00 area. That low coincides with its April 27 low of $1800.28.

Just two days ago, Priceline's stock made its all-time high at $1927.13 and posted its all-time closing high Tuesday at $1911.12.

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