Why Airbnb Stock Dropped Today
Shares of Airbnb (NASDAQ: ABNB) are down 2.5% as of 2:45 p.m. EST Friday afternoon, and I have to say that even with the Nasdaq Composite Index going all helter-skelter on us today -- falling 2.5% initially only to turn around, and now heading for a 1% gain -- this is kind of a weird reaction investors are having to Airbnb's latest news. You've probably already heard by now that Airbnb is seeking to raise some cash, right? Just after midnight Thursday, Airbnb revealed that it will be paying -- better sit down for this -- a grand total of 0% interest on this $2 billion it is borrowing.
