Airbnb jumps after being added to the S&P 500
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Airbnb (NASDAQ:ABNB) rose 7.7% on Tuesday after S&P Dow Jones Indices said Friday that they would join the S&P 500 on Sept. 18.
Blackstone (BX) will also join the S&P 500. The companies replace Lincoln National (LNC) and Newell Brands (NWL), which in turn will replace uniQure (QURE) and Universal Insurance Holdings (UVE) in the S&P SmallCap 600.
ABNB is set to lose about 1% in annual revenue as New York hosts face new regulations that went into effect today and require registration to operate, as well as compliance with several regulations.
Last month, the company beat earnings estimates and set guidance higher than the consensus expectation.
ABNB shares are up more than 67% so far this year.
The stock has 12 Strong Buy ratings from Wall Street analysts, three Buys, 23 Holds, one Sell and four Strong Sells.
It has two Strong Buy ratings from Seeking Alpha analysts, three Buys, six Holds and one Sell.

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