Shares of the company, which offers customer-generated travel ratings and takes a fee for any traffic sent through to third-party booking sites, closed down 9 percent following the CEO's comments at the Canaccord Genuity Growth Conference. They had run up 32 percent through Tuesday after the company, spun off from online travel agency Expedia Inc in 2011, reported strong second-quarter results in late July. Kaufer said the change in TripAdvisor's model has hurt click-based revenue. Fewer click-throughs to third-party sites was yet to be offset by the higher prices it can charge for clicks that have a greater chance of converting into a booking. TripAdvisor completed the launch of its "meta search" function in June that now aggregates hotel room prices and availability on the company's own web page, minimizing the traveler's need to click through and compare multiple travel sites to make a booking. Get the full story at Reuters Read also "TripAdvisor Q2 profit up 26% on revenue jump"