Big Shareholders Log Off

Hutchison and Cheung Kong sell 70% of their stake in the online travel servicewhose shares dip, though they're still up over a year ago

Two big shareholders in (PCLN) may have taken a cue from company spokesman William Shatner by asking Wall Street to "beam them up" after hanging on to the stock for several years. Shares of the online travel-reservations site tumbled nearly 9% on Sept. 6 after the company disclosed, following the close of trading on Sept. 5, that Hutchison Whampoa and Cheung Kong (Holdings) sold 8.9 million shares of the company's common stock—about 21%—via an offering underwritten by Goldman Sachs.

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