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- Airbnb (ABNB -7.5%) is down sharply on a day when investors have rotated out of growth stocks to favor value names.
- Shares of ABNB are now down more than 10% over the last two sessions to erase some positive sentiment around the record-breaking Q3 earnings report. Several analysts raised their price targets on ABNB after the company noted Q4 Thanksgiving bookings were 40% higher than the level seen in 2019.
- The relative strength index on Airbnb (NASDAQ:ABNB) topped 75 earlier this month, but has dropped back to below 55.