Airbnb Shares Are Falling Friday: Here's Why

Airbnb Inc ABNB shares are trading lower by 5.15% to $118.60 Friday morning amid overall market weakness following bearish economic outlook from FedEx. A recession could lower both travel demand and consumer discretionary spending at large.

What Happened?

FedEx issued preliminary results. The company said it now expects first-quarter revenue of approximately $23.2 billion and first-quarter adjusted earnings to be around $3.44 per share. FedEx has withdrawn its fiscal year 2023 earnings forecast.

The company expects business conditions to weaken further in the second quarter...Read More

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According to data from Benzinga Pro, Airbnb has a 52-week high of $212.58 and a 52-week low of $86.71.