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Airbnb Opens On Nasdaq At Nearly Twice Its IPO Price

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Airbnb Opens On Nasdaq At Nearly Twice Its IPO Price

Airbnb (NASDAQ: ABNB) made its public debut Thursday morning, opening at $146 after being priced at $68 per share.

The company listed its shares on the Nasdaq under the ticker symbol "ABNB."

See Also: Airbnb IPO Filing: 5 Key Takeaways Investors Need To Know

About Airbnb: Airbnb is a vacation rental company. The travel restrictions from COVID-19 hurt the company in early 2020. Since then, the company's filing shows a recovery in July, August and September, with nights booked down 28% year-over-year compared to triple-digit declines in the earlier 2020 months.

Airbnb's Market Size: In April, the San Francisco-based vacation rental company was valued at $18 billion when it secured $2 billion in funding.

At the time, the company disclosed plans to enact cost-cutting measures which included downsizing 1,900 employees, around one-fourth of its total workforce.

 

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