Airbnb stock is up 43% since its closing price of $144 on its IPO in Dec '20. This past week the stock was up 15% on positive vaccination news – 255 million American adults will be eligible for vaccines by May 1.
An Airbnb survey found that traveling is the activity Americans miss the most, even more so than going to restaurants and bars. In Israel, where more than half of the population is vaccinated, Bookings.com has reported double digit growth in bookings. A vaccinated population desperate for travel is great news for $ABNB.
Short Squeez Takeaway: While the pandemic looked like a disaster for Airbnb at first, it looks like a blessing in disguise now. Other than the pent-up travel demand, we think the pandemic has created a permanent trend of work from home. A number of companies such as Twitter have told employees they can work from home permanently, and young people are already taking this opportunity and working from remote locations. If this trend lasts, this will be a huge win for $ABNB, even more so than hotels since it offers kitchens and accommodates longer stays.