Priceline Plunged 10% Today But Here’s The Big Problem

Shares of Priceline Inc. ($PCLN) plunged over $135 (~10%) at one point on Wednesday after the company reported Q1 earnings. Priceline’s Q1 2016 numbers were not that bad: The company said earnings grew by 12% while revenue swelled by 17%. Investors dumped the stock after the company lowered Q2 guidance. The travel giant said performance will be hurt by the timing of a few holidays which people have a hard time accepting as a valid excuse for slashing guidance. The company has been under a lot of pressure recently after the former CEO just resigned after having a “relationship” with an employee.

Original: Forbes Real Time