Since its first day of trading on the Nasdaq in December 2020, investors in growth stocks have been mesmerized and captivated by Airbnb stock. The original public offering price of ABNB stock was $68 per share . On February 11, 2021, the stock reached an all-time high of 219.94, representing a rise of as much as 223% from that price. However, the performance since then has, for the most part, been unsatisfactory.
The tourism sector was confronted with the difficulty provided by numerous strains of Covid-19 in 2021, including the delta and omicron versions of the virus. However, the situation is very different in 2022; the number of known instances of Covid-19 has significantly decreased throughout most continents. Many nations have done away with all quarantine and testing procedures for visitors as long as they can confirm that they have had their full vaccinations.
A rise in tourism may be inferred from the enormous numbers of passengers seen at major airports around the United States during the summer.
Is This Time Different for Airbnb Stock? Is It Making a Comeback?
Good news for Airbnb (ABNB). And stock prices continue to battle to sluggish but steady increase. On the other hand, the longer-term downward trend has not been broken. Does 86.71 represent a new low for ABNB? Even though shares are attempting to go up for a third week in a row, it is difficult to tell what will happen right now.
Indeed, ABNB is still striving to get back above its declining 10-week moving average to gain bullish momentum. As can be seen on an updated chart, Airbnb is currently trading below the stock’s 50-day line, which has been progressively moving upward.
In addition, the relative strength line for ABNB has gradually started to ascend again.
This indicates that the stock has been performing somewhat better than the S&P 500 since June.
The corpor...
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