Published on 29 May 2024 on Benzinga
By Bai Xinrui
Leading online travel agent Trip.com Group Ltd. TCOM emerged from the Covid shadow last year with soaring demand from “revenge travelers,” even as its stock got left behind amid broader pessimism on China’s economy. But the shares have finally found new life, rising 24% in this year’s first quarter on a bigger rally for offshore-traded China stocks. Now, the company’s impressive first-quarter results are reinforcing that sentiment, showing the travel rebound continues even as demand has lost some steam with China’s slowing economy.