Why Booking Holdings Stock Was Sliding Today
Yahoo Finance ·
Shares of Booking Holdings ( BKNG -4.87% ) were sliding today as investors appear to be betting that the world's biggest online travel agency (OTA) will be among the losers from Meta Platforms ' new Muse AI agent. Today's slide comes one day after rival Expedia partnered with Muse. As of 10:24 a.m. ET, Booking stock was down 3.8%. There was no company-specific news out on Booking today, but investors are adjusting their positions to account for the anticipated disruption from Muse, which has become the most downloaded app on both the App Store and Google Play. Muse can handle tasks from booking travel to filling out forms, and can even negotiate for discounts or refunds. Understandably, investors are worried it could circumvent OTAs like Booking that rely on users going to its platforms to find a range of options for hotels, flights, and rental cars.
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