In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
I think COVID-19 drove Airbnb’s growth. To explain, many people wanted to avoid hotels and contact with guests and staff during the pandemic. Hence, Airbnb bookings could fall as people’s fear of COVID-19 declines.
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Thus, Airbnb shares are trading for less than the initial public offering (IPO) price. Mr. Market has lost his faith in Airbnb, possibly because of the recent COVID-19 spikes in countries such as Japan and India.
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