TripAdvisor Shares Drop More Than 23 Percent on Tuesday

Shares of TripAdvisor Inc. plummeted more than 23 percent on Tuesday, which wiped out more than $1 billion in market value representing the the biggest single-day drop in the stock's history, according to Thomson Reuters.

The drop pushed the share price below $30.50, a low the company hasn't seen since 2012.

TripAdvisor's stock is down nearly 30 percent so far this year as it has struggled with an "Instant Booking" feature for hotels and to make money off mobile visitors, among a few other factors, according to The Boston Business Journal.

Earlier this month, the Milwaukee Journal Sentinel reported the TripAdvisor website removed user reviews of some hotel resorts in Mexico that focused on sexual assaults or rape.

In 2010, a woman posted a review of a Mexican resort owned by Iberostar, where she was reportedly raped by a uniformed guard.

That post was removed by TripAdvisor because of "family friendly" criteria, but has since been republished, according to TripAdvisor.

"Since 2010, when the forum post was removed, our policies and processes have evolved to better provide information like this to other travelers," TripAdvisor said to NBC Boston.

"In fact, a simple Internet search will show numerous reviews from travelers over the last several years who wrote about their first hand experiences that include matters of robbery or theft, assault and rape," the statement added. "We believe any first hand experience should be posted to our site as a means to communicate to other consumers looking for information on where they should travel."

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