Airbnb stock has dazzled investors since its Nasdaq debut in December. From its initial public offering price of $68 per share, ABNB stock soared 223%, hitting an all-time high of 219.94 on Feb. 11.
Amid growing concern over how the delta variant of Covid-19 could affect people's travel plans, Airbnb (ABNB) endured another steep slide in July. However, shares are moving bullishly again. On Aug. 24, shares ramped up 10% to a three-month high in blistering volume — a sign that institutional investors are possibly loading up on shares. Almost 21 million shares exchanged hands, more than triple its average turnover over the past 50 sessions.
Since then, the stock has turned in three straight solid weekly gains, hitting levels last seen in May.
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