Airbnb valuation surges past $100 billion in biggest US IPO of 2020

Topics Airbnb | US stock market


By Noor Zainab Hussain and Joshua Franklin (Reuters) - Shares of Airbnb Inc more than doubled in their stock market debut on Thursday, valuing the home rental firm at just over $100 billion in the biggest U.S. initial public offering (IPO) of 2020 and capping a bumper year in which investors flocked to tech stocks. Airbnb opened at $146 on the Nasdaq, far above the IPO price of $68 per share that raised $3.

5 billion for the company. The stock hit a high of $165 and closed at $144.71. The IPO is the culmination of a stunning recovery.

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