Why Airbnb Stock Crashed Today -- Then Got a Little Better
Shares of virtual hotelier Airbnb (NASDAQ: ABNB) got caught up in the tech stock flash crash Tuesday morning, falling more than 10% in early trading as the Nasdaq fell 4%. The Nasdaq recovered to "only" a 1.7% sell-off, and Airbnb is down "only" 5.2% -- and Loop Capital may be part of the reason for Airbnb's partial recovery. Loop Capital, you see, upgraded Airbnb shares to "buy" yesterday, ahead of the company's first earnings report as a publicly traded company, due out Thursday, Feb. 25.
