Airbnb becomes its own FOMO superhost
December 11, 2020SharePrint
IPO sends Airbnb skyward
Another day, another US IPO with 100% gains. Following DoorDash on Wednesday, yesterday it was AirBnB’s turn, its shares doubling on the day, and finishing with a market cap of over USD100 billion. If nothing else, it highlights how keen retail investors are to grab a slice of the 2021 vaccine-led recovery action at any price. At least AirBnB has a quarter of profits to justify the valuation, although looking at how full my domestic flights were to and from Bali last week, I do not doubt that the pent tourism demand out there is exponential.
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