Why Airbnb IPO Has Jim Cramer Worried About Valuation
Airbnb could start trading with a valuation of over $100 billion market value following the indications that the stock could open above $150 in its market debut.
The stock priced at $68 last night.
Airbnb offered around 52 million shares. The pricing of $68 put the stock well well ahead of Airbnb's December 1 target of between $44 and $50 each and the biggest IPO of the year for a U.S. company.
The shares will trade on the Nasdaq under the ticker symbol ABNB.
Jim Cramer weighs in on the IPO and his thoughts on the company.
WATCH: Everything Jim Cramer Is Watching in the Market Thursday
Latest Videos From TheStreet and Jim Cramer:
- Coronavirus: The Latest Numbers on the COVID-19 Pandemic
- Streaming Isn't Enough to Make Jim Cramer Buy AT&T Stock
- What Stimulus Checks Do and Don’t Mean For Your Taxes
- Time Is Right for Airbnb, DoorDash IPOs, Asset Manager Says
- Drivers of Disruption and Innovation in the PPE Space
- Why Jim Cramer Is Confident on a Vaccine Rollout
- Jim Cramer: How to Balance Stay-At-Home and Return to Normal Plays