NORWALK, CN Pricelines stock price sunk to $10.75 last Wednesday, down $7.89, or about 42%, after company officials warned that third-quarter revenues would fall short of analysts estimates.
It was the latest in a string of bad news for Priceline, arguably the second-best-known Internet retailer after Amazon.com.
In the past two years, Priceline has slid from its all time high of $162.50 a share to its current selling price of $11.25. The future of Priceline- which urges customers to “name your own price” for airline tickets, hotel rooms, gasoline, and groceries- is unclear. (10/2/00)
Source: Hartford Courant