Airbnb stock will start trading at $157 per share, above the $68 initial public offering price


It was door Dash, whose initial public offering started out at $182 a share that was 80% more or less over the price initially set today it is Airbnb Stern and not to be outdone, it was priced at $68 a share and his indicated to start trading at $157 about 130% more than expected. We expect that trading to come any minute now. The meantime, we want to welcome critic Gupta. She is Bloomberg Cross Asset Markets. Reporter critic Great to have you with us. So what is going on? These numbers are almost unbelievable. They absolutely are. And you're seeing Airbnb cross a nearly $100 billion evaluation. This chair's just rising and rising and remember the prices here. The idea was price of $60 a share. You're now looking at indicated bid of I believe $150 a share so very interesting dynamic here and like you said, This is really coming. Right on the heels of that door Dash AIPO yesterday. Remember, Airbnb is facing justice. That's trouble as airlines hotels, cruise lines door nationals a little bit different because you already saw door dash have such explosive growth really on simply be pandemic work from home era you saw the food delivery name Really grow Airbnb. On the other hand, they're in a cash crunch through to see that kind of demand For this arguably a cyclical play. It is pretty substantial. And if you actually just look at where you got the most returns in the past month If those same sectors sectors that has been most volatile this year, the travel sector like you mentioned airlines, hotels, cruise lines, so a lot of this demand for Airbnb looks like it's starting to turn into a cyclical play. The question is Until you start to see that revenue matchup. How long will the Airbnb I po really stay at the levels that it Davies up

Coming up next