Why Are trivago Shares Trading Lower Today?

• Concerns over the new Omicron variant of COVID-19 and travel restrictions caused a spike in cancellation rates, hitting growth in traffic related to holiday travel planning, online hotel search platform trivago NV (NASDAQ:TRVG), Reuters reports.
• The cancellation rates surged 35% since November, with holiday travel-planning-related traffic falling 10%.
• Most travelers chose domestic destinations.
• The overall traffic around holiday travel planning slowed, growing by 4% since the variant erupted.
• British Prime Minister Boris Johnson's warning of a "tidal wave" of new cases, the country reporting the first publicly confirmed death, has triggered widespread panic.
• Price Action: TRVG shares traded lower by 3.79% at $2.03 on the last check Tuesday.