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Benzinga

Business

Henry Khederian

Here's Why Airbnb Shares Are Moving

Airbnb ABNB Airbnb Inc Nasdaq

Shares of several companies in the hotels, restaurants and leisure sectors, including Airbnb Inc (NASDAQ:ABNB), are trading higher amid overall market strength as stocks rebound following Tuesday weakness. Investors continue to assess inflation and Fed rate hike outlook as well as corporate earnings.

Travel-related stocks may also be trading higher in sympathy with Delta Air Lines (NYSE:DAL) after the company reported better-than-expected first-quarter EPS.

Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences.

According to data from Benzinga Pro, Airbnb is trading higher by 6.92% at $171.19. Airbnb has a 52-week high of $212.58 and a 52-week low of $129.71.

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