How Is This Possible?

Summary

The episode dissects Tripadvisor’s shocking Q4 FY25 results, which sent the stock tumbling below $10—a historic low—following a 2025 merger that eliminated a controlling shareholder. Host examines activist investor Jeff Smith’s aggressive push for strategic change, highlighted by his pointed question, “How is this possible?” to Chairman Greg Maffei and CEO Matt Goldberg, and explores potential divestitures like TheFork, Viator, or even the entire company. The discussion blends financial analysis with corporate governance insights, emphasizing the pressure on management to respond to activist demands and market realities.