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Why Booking Holdings Stock Nose-Dived Today

TheMotleyFool

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Why Booking Holdings Stock Nose-Dived Today: https://g.foolcdn.com/editorial/images/843205/the-port-fuselage-of-a-plane-at-dawn-or-dusk.jpg

On news that a very well-capitalized and famous rival is substantially expanding its travel offerings, Booking Holdings (NASDAQ: BKNG) stock took a hit on Monday. The online travel agency's (OTA) share price dropped by nearly 5% during that trading session, which was a notably more pronounced decline than the 0.9% slide of the benchmark S 500 index.

That rival is no less an enterprise than 's Google. The tech behemoth announced that day it's enhancing its travel research and booking services.

Image source: Getty Images.

Source Fool.com