Why Is TripAdvisor Stock Trading Higher Today?

TripAdvisor, Inc. (NASDAQ: TRIP) shares rose 4.28% to $9.75 following the announcement of a cooperation agreement with activist investor Starboard Value, which owns over 9% of the company. This agreement will lead to the addition of four new members to TripAdvisor's Board of Directors, with two appointments made immediately. Despite this positive news, TripAdvisor's stock remains 1.7% below its 20-day simple moving average and 26.9% below its 100-day simple moving average, reflecting a challenging year with a 35.24% decline in stock price over the past 12 months.