Airbnb shares surge 115 per cent in market debut

Company opens at $146 per share

Airbnb opened at $146 per share on its first day of trading on Thursday, more than double the $68 price set for its initial public offering the day before.

The online holiday rentals company was forced to shelve plans for a listing earlier this year, with global Covid-19 restrictions severely affecting both domestic and international travel.

The 12-year old firm had initially planned to sell shares at between $56 and $60, raising $3.7bn from and valuing the company at $47bn, but hiked its target following fervent investor interest.

The IPO comes hot on the heels of fellow San Francisco-based firm DoorDash’s listing. Shares in the VC-backed food delivery company surged 86 per cent on Wednesday, its first day of trading.

What is your sentiment on ABNB?

101.67
Bullish
or
Bearish
Vote to see community's results!

By mid-afternoon (EDT), Airbnb traded up 111 per cent at $143.76. With a market capitalisation of $98.7bn (£74.3bn, €81.4bn), the company now has a higher valuation than the world's two largest hotel firms, Hilton and Marriott, combined. 

FURTHER READING: Grayscale buys $266m more Bitcoin

FURTHER READING: Oil holds steady despite increasing US stockpiles

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image