Airbnb Shares Dips, as CEO Says ‘It’s a Good Time to Buy’
Forecasts for sales and nights booked miss analyst estimates.
Shorter booking lead times and weaker US demand dampened gains.
Tweet on Airbnb share fluctuation
@Airbnb Shares Slide By Record on Weak Outlook, but CEO Says ‘It’s a Good Time to Buy’#Airbnb #shares #BuyTheDip pic.twitter.com/vyfcj3mSGQ
— The_Journalbiz (@the_journalbiz) August 7, 2024
Bloomberg chart data
Airbnb saw a slight acceleration in the growth of North American nights booked in the second quarter.
Airbnb Inc. shares plunged by the most ever after the company issued yet another disappointing outlook and warned of slowing demand from US vacationers.
This is the third consecutive quarter that Airbnb has offered a downbeat forecast to investors. The company’s latest bookings outlook sets it up for the slowest pace of growth since 2020.
- Airbnb’s shares plunged by as much as 15% in New York on Wednesday, their biggest intraday drop since the company went public in 2020.
Airbnb Inc. Chief Executive Officer Brian Chesky’s response to his company’s disappointing outlook and an ensuing share-price plunge: “I’m confident it’s a good time to buy.”
