Why Airbnb Stock Popped Today
Shares of Airbnb (NASDAQ: ABNB) surged higher today as the broader market made significant gains. The S&P 500 was up by 2.6%, and the Nasdaq Composite gained 2.9% near the end of the trading day, as investors regained some optimism in the market following the latest data on job openings.
That sentiment helped boost Airbnb's shares, which were up by 5.2% as of 3:49 p.m. ET.
Most stocks suffered significant losses last month as investors worried that ongoing interest rate hikes by the Federal Reserve could end up spurring a significant recession. As a result, the S&P 500 fell 9.6% in September.
Source Fool.com
