Why LendingTree (TREE) Shares Are Sliding Today
Source: StockStory ·
Shares of financial marketplace platform LendingTree (NASDAQ:TREE) fell 7.4% in the afternoon session after the Wall Street Journal reported that Meta’s Muse can buy goods online, respond to emails, and complete other tasks a user authorizes. Barron’s Anita Hamilton wrote Tuesday that this is already hitting travel sites, because Muse can book flights and places to stay. Expedia, Booking…
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Shares of financial marketplace platform LendingTree (NASDAQ:TREE) fell 7.4% in the afternoon session after the Wall Street Journal reported that Meta's Muse can buy goods online, respond to emails, and complete other tasks a user authorizes. Barron's Anita Hamilton wrote Tuesday that this is already hitting travel sites, because Muse can book flights and places to stay. Expedia, Booking Holdings, Tripadvisor, and Airbnb were falling, she reported. Bloomberg Intelligence analysts Mandeep Singh and William Tong wrote that if agents take 5% to 10% of travel, ride-hailing, and delivery business, the combined revenue loss could exceed $5 billion, Barron's reported. LendingTree is paid when a consumer comes to its site to request a loan. Muse completing that request without opening the site is the same problem Barron's described for travel, applied to a lead instead of a booking. The 5% to 10% figure is a scenario for travel and delivery, not a measured loss at either company. Requests…