Why Airbnb Stock Jumped 17% in June
Shares of Airbnb (NASDAQ: ABNB) were moving higher last month as the leading home-sharing platform benefited from a generally rising tide in tech stocks, some positive analyst chatter, and a lawsuit to fight back against New York City's restrictions on short-term rentals. Continued evidence of strong demand in the travel market also seemed to lift the stock.
As a result, the stock finished the month up 17%, according to data from S&P Global Market Intelligence.
Airbnb stock got a bounce to kick off June after the company sued New York City over a new law restricting short-term rentals and requiring hosts to register with the city.
Source Fool.com
