Is Airbnb Still a Buy at $200?

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The U.S. government’s elimination of its travel ban on more than 33 countries has been a catalyst for ABNB’s business revival. Furthermore, investors’ sentiment about traveling improved with the November 5 announcement that Pfizer Inc.’s (NYSE:PFE) COVID-19 pill reduces the risk of being hospitalized or dying from the virus by 89%.

However, ABNB’s cost of revenue in the third quarter (ended September 30, 2021) increased 37% year-over-year to $312 million due to an increase in merchant fees driven by higher Nights and Experiences Booked. In addition, a company director, Jeffrey Jordan, sold 25,000 shares in September 2021. So, ABNB’s near-term prospects look uncertain.

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