Here's the 1 Thing That Made Me Reconsider Buying Airbnb Stock
It's impossible to research every stock on the market -- there are literally thousands to choose from. Because our time is limited, we sometimes ignorantly dismiss a golden opportunity instead of diligently digging deeper. It's scary to think I almost did that with Airbnb (NASDAQ: ABNB).
Airbnb's initial public offering (IPO) was expected to price below $50 per share. But outsized demand caused the company to raise its pricing range to between $56 and $60 per share. Yet that still wasn't enough. The December IPO eventually priced at $68 per share before closing its first day of trading at a stunning $144 per share.
By that point, I was positive Airbnb stock was overhyped and overvalued. But curiosity finally compelled me to investigate. I decided to read the company's registration documents and that's when I saw it. My most basic underlying assumption about Airbnb's business was wrong. And now that I realize my error, I want to own a piece of this company.
Source Fool.com
