Airbnb and Doordash to Hit the Stock Market (And other news)

Today is November 17, exactly 1 year after the first reported case of Covid-19 in China. Since then, our panicking mindset has somewhat calmed down and it seems that people are starting to return to their old habits. Among those habits is traveling. Airbnb reported $1.3 billion net earning this past quarter and a $219 million dollars in profit. While this is down from last year's $1.6 billion net, it is good news after coming back from being down 72% in the second quarter. Airbnb is also doing much better than its peers in the travel industry. I mean Boeing has yet to recover from its massive slip from nearly $400 per share and its currently down to under $200 (at time of writing this). But now for some news about the highly anticipated Airbnb IBO.

• They'll be trading on Nasdaq under the ticker symbol ABNB

• They have not released the price share range or how many total shares

• They are four types of shars

  • Class A = 1 vote per share

  • Class B = 20 votes per shares

  • Class C = no votes

  • Class H = no votes, for endowments

• There will definitely be 9.2 million shares of Class H common shares.

  • Endowments will be used for educational aid and emergency aid

  • Will go into effect with the total value of the shares reach $1 billion

• It will be a traditional IPO

• It's expected to be available in December

It's important to note that while many people do enjoy looking out for IBO as a buy-low-sell-high trading opportunity, it doesn't always work out. Just look at what happened with Uber in 2019.

Doordash, too, is getting ready to hit the market so be share to look out for the food delivery service as well. Doordash's growth, unlike airbnb, as accelerated due to covid. Here's what we know about the equally anticipated Doordash IBO.

• They'll be trading on NYSE under the ticker symbol DASH

• Co-founders Xu, Stanley Tang, and Andrew Fang will split all the Class B shares

  • Xu =14.9 million shares

  • Andrew Fang = 13.5 million shares,

  • Stanley Tang =13.4 million shares

• Tripled income this year

• It will be a traditional IPO

• It's expected to be available in the fourth quarter