Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Airbnb's shares have experienced a significant decline following a lowered revenue forecast for the third quarter, attributed to economic concerns and a reduction in booking windows. The company's shares fell by 13.38% on Wednesday, marking a 33.56% drop from its 52-week high and a 25% decline over the last month. Analysts at Citi and RBC Capital have responded by lowering their price targets for Airbnb to $135 and $120, respectively. Despite the downturn, institutional investors remained bullish buyers in the second quarter. CEO Brian Chesky expressed confidence in the company's prospects, although a related statement was later deleted.
Airbnb, $ABNB, is down 25% the last month. CEO Brian Chesky’s response to his company’s disappointing outlook and an ensuing share-price plunge on X was: “I’m confident it’s a good time to buy.” It has since been deleted, per Bloomberg. https://t.co/S6Zfd4Aqih
$ABNB closed down 13.38% today, after the company reported "seeing signs of slowing demand from U.S. guests." It is now down 33.56% from its 52Wk Hi, wiping out its gains since 6/1/23. 😬 Institutional investors were still bullish buyers, at least, in the Q2 as the latest #13F… https://t.co/uSLGgQHAYh https://t.co/4nHdluX07B
Airbnb's share price dropped Wednesday as its lowered outlook reinforced market fears that of a looming recession. @BruceC_Inc https://t.co/SeldJ6dQDD
