Airbnb (ABNB) announced multiple changes to its platform on Wednesday, calling them “the largest change to Airbnb in a decade.”
Investors have been thrilled about the new interface and features, which could boost the company’s busy and profitable vacation season when combined with the company’s prior outstanding quarterly report and Airbnb’s bullish forecast.
In addition, Airbnb (ABNB) shares have dropped 20% this week, following a widespread slide in IT companies as a result of increasing Fed rates. As a result, buying Airbnb stock has grown more appealing.
The firm announced the following important updates in their presentation “The Airbnb (ABNB) 2022 Summer Release”:
Category search. The Airbnb app no longer requires users to begin their search by nation or city. Beach, ski, winery, golf, surf, and more categories are now included in Airbnb (ABNB) accommodation searches.
More options for long trips. Airbnb (ABNB) has launched the “Split Stays” function, which allows users to book two-home long-term packages since the company sees a lot of potential in the current telecommuting trend.
According to Airbnb (ABNB), bookings over 28 days reached an all-time high in the first quarter, more than double pre-pandemic levels and accounting for about one out of every five nights.
This type of travel has piqued Airbnb’s curiosity. According to the firm, the number of nights booked for summer visits to unique residences grew by 80% in the first quarter of 2022 compared to 2019.
The shares of Airbnb (ABNB) rose 0.02 percent to $116.15 in the most recent trading session. The company’s shares were trading between $112.3669 and $123.77. It traded 13.66 million shares, which was more than the 100-day average of 6.32 million shares. In the previous five days, ABNB’s stock has lost -25.63 percent, and in the last month, it has lost -27.52 percent.