Benzinga | Aug 24, 2020 03:22PM EDT

Why Expedia's Stock Is Trading Higher Today

Expedia Group (NASDAQ:EXPE) shares are trading higher on Monday as travel optimism is lifted by slowing U.S. coronavirus cases as well as treatment progress.

The FDA issued emergency use authorization for convalescent plasma and Trump reportedly may fast track AstraZeneca's vaccine.

Expedia is the world's largest online travel agency by bookings, offering services for lodging (70% of total 2019 sales), air tickets (7%), rental cars, cruises, in-destination, and other (14%), and advertising revenue (9%).

Expedia operates a number of branded travel booking sites, including Expedia.com, Hotels.com, Travelocity, Orbitz, Wotif, AirAsia, Egencia, and Vrbo. It has also expanded into travel media with the acquisition of Trivago. Transaction fees for online bookings account for the bulk of sales and profits.

Expedia shares were trading up 4.56% at $95.25 on Monday during the time of publication. The stock has a 52-week high of $139.88 and a 52-week low of $40.76.