Why Airbnb Stock Leaped Nearly 7% Higher Today
With barely over 24 hours to go before Airbnb (NASDAQ: ABNB) was to publish its latest set of quarterly figures, investors pushed the company's stock well higher on Monday. It closed 6.9% above its Friday closing level, greatly outpacing the 1.1% increase of the S&P 500 index on the day.
Airbnb is slated to unveil its fourth-quarter and full-year 2022 earnings shortly after market close on Tuesday. Investors are clearly optimistic that the company will do well and have every reason to be optimistic now that the coronavirus threat seems to be fading quickly. In such an environment, many people remain eager to leave their residences and see another state, country, or continent.
Airbnb certainly doesn't have a monopoly on do-it-yourself (DIY) accommodation services, but it's the brand most readily identified with that durably popular segment.
Source Fool.com
