Shares of vacation rental company Airbnb (NASDAQ: ABNB) lost 21% of their value in May according to data provided by S&P Global Market Intelligence. The company delivered a stellar earnings report at the beginning of the month, but the market is having trouble valuing the stock.
Airbnb made a bold move by going public at the height of its pandemic declines in December 2020. But the market was exploding at that time, with investors hungry for initial public offerings (IPOs), and Airbnb's was the largest IPO of 2020 by funds raised.
Image source: Airbnb.
Source Fool.com