Airbnb Tops $100 Billion on First Day of Trading

Airbnb Tops $100 Billion , on First Day of Trading.

Airbnb shares opened at $146 on its first day as a publicly traded company.

This was 115 percent higher than the $68 share price of its initial public offering (IPO).

The vacation rental company's market capitalization was estimated at more than $101.5 billion.

Airbnb's offering of $3.5 billion beat out DoorDash's $3.4 billion IPO.

Which makes Airbnb the most significant IPO of 2020.

2020 was the busiest year for IPOs in more than three decades, despite a volatile pandemic economy and high unemployment rates.

There obviously is a tremendous amount of enthusiasm.

It’s just hard to really feel comfortable and confident about valuation levels, Scott Kessler, Third Bridge Analyst, via 'The New York Times'