Why Airbnb Stock Climbed Today
Growth stocks including Airbnb (NASDAQ: ABNB) charged higher Monday after a fiscal policy about-face in the U.K. jolted global markets. In addition, Bank of America delivered a solid earnings report, the latest data point to show that the U.S. economy remains stable despite rising interest rates and high inflation.
There was no company-specific news relating to Airbnb, but the travel stock benefited from the broad tailwinds in the market, especially the weakening dollar.
Airbnb stock closed the session up 6.7%, while the Nasdaq Composite index tacked on 3.4% for the day.
Source Fool.com