market folly

Steve Mandel's hedge fund firm Lone Pine Capital has filed a 13G with the SEC regarding shares of Expedia (EXPE).  Per the filing, Lone Pine now owns 5.21% of EXPE with over 7.14 million shares.

This is a newly disclosed position for the fund as they did not show a stake back at the end of the second quarter.  The filing was made due to activity on September 29th.

Lone Pine has also been a longtime holder of fellow online travel agency, Priceline.com (PCLN). They've owned PCLN shares since 2011.

Per Google Finance, Expedia is "an online travel company. The Company makes travel products and services available, on a standalone and package basis, provided by various lodging properties, airlines, car rental companies, destination service providers, cruise lines and other travel product and service companies. Its Core OTA segment provides a range of travel and advertising services, through a range of brands, including Expedia.com and Hotels.com in the United States and localized Expedia and Hotels.com Websites throughout the world, Orbitz.com, Expedia Affiliate Network, Hotwire.com, Travelocity, Venere, Wotif Group, CarRentals.com, and Classic Vacations. Its trivago segment sends referrals to online travel companies and travel service providers from its hotel metasearch Websites. Its Egencia segment, which also includes Orbitz for Business, provides managed travel services to corporate customers. Its HomeAway segment operates an online marketplace for the vacation rental industry."