Why Global Business Travel Group Stock Is Skyrocketing Today
Global Business Travel Group stock surged 57.4% in Monday's trading after news that Long Lake Management is set to buy the company at a substantial premium. The company's Q1 results showed earnings per share of $0.10 on sales of $840 million, with revenue up 35.5% year over year.
Global Business Travel Group stock is up 57.4% in Monday's trading. The surge is driven by news that Long Lake Management is on track to buy the business at a substantial premium. Global Business Travel reported Q1 earnings per share of $0.10 on sales of $840 million, with revenue up 35.5% year over year. Net income declined 28% to $54 million. Shareholders are set to receive $9.50 per share through the buyout, which is expected to close this quarter. The current trading price suggests a potential upside of 1.8% from the buyout price.
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