ABNB Stock Recent News
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Once again, Airbnb shares fell sharply following a disappointing quarterly results, thus prompting some investors to buy the dip. In a similar fashion to the previous quarter, this 3-month period was marked by a number of red flags. Even though ABNB now trades at a relatively low sales multiple, the stock is not a buy yet.
The S&P 500 gives investors exposure to 500 corporations. The idea behind the large portfolio is that investors get exposure to the top companies in multiple sectors.
Daniel Kurtis, Benchmark media and Internet analyst, joins 'The Exchange' to discuss how investors could position their travel stocks, Expedia, consumer impact on travel, and more.
Wall Street loves to complicate situations and throw in a lot of lingo, which is just what happened last week when the S&P 500 sold off and carried down many other stock market indexes across the globe. The response to this price action?
Airbnb stock plummets 13% post-earnings due to mixed 2Q results and weak 3Q revenue guidance, indicating a growth slowdown in "total nights and experiences". Management indicated that consumers are less willing to book in advance and expects a slowdown in demand from U.S. guests, supported by recent weak economic data from early August. The company guided a YoY margin contraction due to increased marketing expenses in both Q3 FY2024 and FY2024.
Airbnb disappointed investors with slowing revenue growth and weak guidance. Yet, the innovative travel company's competitive advantages remain intact.
Fiverr could benefit from several growth opportunities in the expanding gig economy. Airbnb's financial results remain excellent as it makes headway in the large hospitality industry.
Recent volatility in the stock markets has allowed investors to buy discounted quality stocks you couldn't find earlier in 2024. For example, the S&P 500 lost 8.5% from its 52-week high of 5,669.67 in mid-July to its Aug. 5 closing price of 5,186.33.
Airbnb is becoming the go-to destination for travelers worldwide.
The trade in technology stocks is getting more difficult. The mega-cap tech names known collectively as the “Magnificent Seven” lost a combined $1 trillion of value amid the global market rout that occurred on August 5.