The shares of the accommodation platform reached a price of $ 155.81, 128.69% more than the $ 68 at which its initial price was set.
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Airbnb’s listing on the stock market far exceeded expectations. The platform for accommodation between individuals registered an increase of 128.69% in the value of its shares , which reached a price of 155.81 dollars . Now, the company is more valuable than the seven largest hotel chains in the United States combined. It even surpassed Uber and the Inditex group.
On December 10, Airbnb began trading on Wall Street. They originally planned to sell their shares at a price of between $ 44 and $ 55 per unit, which would give them a value of between $ 31 and $ 38 billion .
Eventually, the initial price was set at $ 68 per share , but that price didn’t last long. The shares of the San Francisco-based company closed their first day on the Nasdaq in New York with a price of 144.71 dollars , that is, an increase of 112.8% , reaching a capitalization close to 86.5 billion dollars , more than double what was expected a day before. That placed Airbnb slightly above hotel reservation giant Booking.
– Nasdaq (@Nasdaq) December 11, 2020
In a couple of days, the platform’s shares reached $ 155.81 , which represents an increase of 128.69% compared to its public offering for sale (IPO). Thus, Airbnb closed with a final valuation of more than 100,000 million dollars , according to Bloomberg .
It is now more valuable than the seven largest hotel chains in America combined. For example, Marriott is worth about $ 41 billion; Hilton, about $ 29 billion and Hyatt another $ 7 billion. It also exceeded the market capitalization of Uber and Grupo Inditex.
This is the biggest debut success since May 2019, when Beyond Meat went public with a 163% gain.
See also: See why Jeff Bezos will increase his fortune thanks to the arrival of Airbnb to Wall Street
To celebrate its foray into the stock market, Airbnb released an emotional video thanking users and inviting them to symbolically “ring the bell” on Wall Street along with the company.