What happened

Shares of travel booking website TripAdvisor (NASDAQ: TRIP) fell as much as 5.5% on Friday. The stock is down 4.6% at the time of this writing. Without any new and notable SEC filings, press releases, or analyst notes, the stock doesn't appear to be trading lower for any specific reason. Sometimes stocks simply make meaningful moves without any particular reason -- and this could be the case on Friday.

Some shareholders could be reevaluating their position in TripAdvisor ahead of earnings season. On Thursday, TripAdvisor announced the date for its third-quarter earnings release and conference call. The earnings report will take place on Nov. 7 at 8:30 am ET.

Image source: Getty Images.

So what

TripAdvisor stock has had a rough year, trading 10% lower year to ydate. One recent negative catalyst for the stock was a bearish note from an analyst, citing heightened competition from competitor Priceline. Friday's sell-off could also simply be a continuation of some overall bearish sentiment in the stock market toward TripAdvisor this year.

Now what

When TripAdvisor reports third-quarter results in November, investors should look for an update on how the company's brand refresh earlier this summer is paying off. In May, the company revamped its brand with a clean new look across all devices, as well as an improved hotel shopping experience and other updates. In TripAdvisor's second-quarter update, management said "early indications" from surveys about the brand refresh were positive, showing "upticks in user confidence that TripAdvisor is a site that helps them find the lowest prices."

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Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Priceline Group and TripAdvisor. The Motley Fool has a disclosure policy.