Airbnb Tops $100 Billion on First Day of Trading
Airbnb Tops $100 Billion on First Day of Trading
Airbnb Tops $100 Billion , on First Day of Trading.
Airbnb shares opened at $146 on its first day as a publicly traded company.
This was 115 percent higher than the $68 share price of its initial public offering (IPO).
The vacation rental company's market capitalization was estimated at more than $101.5 billion.
Airbnb's offering of $3.5 billion beat out DoorDash's $3.4 billion IPO.
Which makes Airbnb the most significant IPO of 2020.
2020 was the busiest year for IPOs in more than three decades, despite a volatile pandemic economy and high unemployment rates.
There obviously is a tremendous amount of enthusiasm.
Itβs just hard to really feel comfortable and confident about valuation levels, Scott Kessler, Third Bridge Analyst, via 'The New York Times'
