What happened
Sections of Airbnb (NASDAQ: ABNB) they are up almost 20% just this week, including a 9% lump today, from 2:20 pm EST. The trend is at its highest level since the first public offering (IPO) was just over a month ago.
so what
The only news out today is the announcement that Airbnb has decided to postpone performances made for Washington DC during the inauguration period, and will prevent new suspicions from doing so.
Image source: Getty Images.
The news cites requests from local, state, and federal officials urging people to stay away from Washington DC during inauguration week. Airbnb will return guests whose doubts have been dispelled, and investors may back the company for another side of the announcement.
At its own expense, the home rental platform also gives guests a refund for the money they would have earned from the canceled deposits.
Now what
Airbnb also said that they have been actively working to prevent the members of the hate groups from being part of its community, and in fact it has identified and excluded “several individuals” from the top his floor.
Regardless of whether today’s movement in the stock as sentiment supports the company’s position, this week’s gains have reduced Airbnb’s market capitalization to more than $ 100 billion for the first time .
Airbnb investors may also be boosted by an SEC filing from Monday showing that popular investment management company T. Rowe Price Associates (NASDAQ: TROW) it owns more than 10% of Airbnb’s share shares. Where there are buyers, there are sellers as well, but seeing the ownership of a professional finance company along with investing sometimes gives investors more confidence.