Why did Airbnb stock slide today? Unsteady forward guidance
courtneyk

Airbnb (NASDAQ:ABNB) stock slid 13.43% on Wednesday as âchoppyâ forward guidance aroused caution on the stock.

Although the company posted a strong beat on top and bottom lines for the third quarter, a slight miss on nights and experiences booked tempered enthusiasm. However, the key to the downside move appeared to be a below consensus forecast for Q4 revenue and cautious commentary on currency impacts hitting the bottom line and macro headwinds hitting demand.

Given the stockâs high multiple, analysts advised that even a small step back could mean significant downside, perhaps accentuating the move on Wednesday. For example, Oppenheimer told clients that âshares appear fully valuedâ at current levels, with room for multiple compression in the next year.
Read more analyst commentary on the stock.