When the coronavirus pandemic first hit, Airbnb hardly looked like a company in the right place at the right time. The Covid-19 crisis that has crushed the global tourism industry certainly made a serious dent in the home-sharing pioneer’s business. And investors should be cautious about reading too much into the company’s recent boost in operating profit for the third quarter. But for now, restrictions are in fact getting tighter amid a new wave of infections across the U.S. and Europe. Hence, the timing of Airbnb’s listing now could allow public investors to participate in the recovery of a business that was averaging 33% annual growth before the pandemic hit.

Source: Mint November 17, 2020 01:07 UTC