December 10, 2020

Should You Trade Airbnb (ABNB) and DoorDash (DASH) IPOs?

Midas Letter
Midas Letter
Should You Trade Airbnb (ABNB) and DoorDash (DASH) IPOs?

This is the week for the big IPO’s. This already in a year where IPOs have raised more than $160 billion. DoorDash Inc (NYSE:DASH) shares shot up 86% in its first day of trading amounting its market cap to a staggering $72 billion. For context that’s larger than Domino’s Pizza (NYSE: DPZ), Chipotle (NYSE: CMG), and Dunkin’ (NASDAQ: DNKN) combined.

Up next today: the home rental platform we are all familiar with (maybe less so during the COVID pandemic) Airbnb (NASDAQ: ABNB).

The company had a roller-coaster year where their global bookings dropped as low as 72% in April. This forced them to cut costs and a quarter of its workforce.

However, since April the company has seen a massive profit as people are looking to get away – especially to more rural areas.

Airbnb has priced its shares at $68 creating a total valuation of $47 billion.

There are more companies on deck this year to go public. Affirm, Roblox, and Wish to names some.

Watch the full interview to see of you should get a piece of these new IPO’s and what to look if investing.

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