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Added on the 04/01/2021 10:47:47 - Copyright : Wochit
Mike Windle/Getty Images for Airbnb Airbnb soared 115% at the open in its trading debut on Thursday, giving the peer-to-peer lodging service a market valuation of more than $100 billion. Airbnb raised $3.5 billion in funds when it priced its IPO at $68 per share, giving it an initial market valuation of $47 billion. An IPO frenzy has quickly materialized in the fourth quarter of 2020, given the eye-popping surge in recent trading debuts for DoorDash and C3.ai.
Tesla short-sellers saw $38 billion in mark-to-market losses throughout 2020, Bloomberg reported Thursday, citing S3 Partners data. Short interest in the company's shares plunged to less than 6% of Tesla's float from nearly 20% at the start of last year. The losses trounce the $2.9 billion total seen in 2019 and come on the back of Tesla's 740% surge over the past 12 months. Investors betting against Tesla lost billions last year, as the automaker's shares leaped above nearly all estimates.
Business Insider reports that Airbnb is planning to raise $2.6 billion in its mid-December IPO. The IPO would give Airbnb a valuation of up to $35 billion. The company plans to list about 50 million shares at between $44 and $50 per share, a regulatory filing showed. Airbnb will list on the NASDAQ under the symbol "ABNB." It was previously eyeing a $30 billion valuation, with $3 billion in proceeds.
Tesla may be the new kid on the block in the auto industry, but it's quickly become a big kid on Wall Street. The electric-car maker's shares continued to climb more than 4% on Tuesday. This increases the company's total market value above $500 billion for the first time. The milestone comes on the heels of a banner year for Tesla's stock, says CNN. Tesla recently upgraded facility now has the capacity to build 500,000 Model Y and Model 3 sedans a year. This is in addition to 90,000 of its more expensive Model S and Model X vehicles.
Last year Tesla CEO Elon Musk predicted autonomous driving would boost his company's market capitalization to $500 billion. On Monday, Tesla's market cap soared as high as $498 billion even though Tesla is still refining its self-driving software. Business Insider reports that it has only released a beta version to a limited number of customers. Musk made the claim during an investor call in May 2019, when Tesla's market cap was less than $45 billion, CNBC reported. The Tesla chief projected in 2015 that his company's market cap could balloon to $700 billion by 2025.
U.S. President Barack Obama attends an outdoor arrival ceremony in heavy rain, as the first sitting U.S. president to visit Laos. Rough Cut (no reporter narration).
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