Posted on 12/10/20
| News Source: WSJ
Airbnb Inc.’s ABNB +108.84% shares more than doubled in their debut on Thursday, reflecting a soaring market for new stock listings and the home-sharing company’s ability to navigate the coronavirus-induced downturn in travel this year.
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The stock began trading at $146 on the Nasdaq Stock Market, higher than its initial-public-offering price of $68 a share.
The opening trade valued Airbnb at $101.6 billion, versus its IPO valuation of roughly $47 billion, based on a fully diluted share count and proceeds from the offering. Based on the stock’s debut, the company is worth more than Marriott International Inc., Hilton Worldwide Holdings Inc. and Hyatt Hotels Corp. combined.
More recently, the stock traded at $146.70. Read more at WSJ