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? On Wednesday, the company announced plans to float $2 billion in convertible senior notes due in 2026, although it didn't say at the time what kind of interest it was willing to pay on the debt.
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Source Fool.com
