Airbnb valuation surges past $100b in biggest US IPO this year

Airbnb valuation surges past $100b in biggest US IPO this year

A 3D printed people's models are seen in front of a displayed Airbnb logo in this illustration taken, June 8, 2016. REUTERS/Dado Ruvic/Illustration

Shares of Airbnb Inc more than doubled in their stock market debut on Thursday, valuing the home rental firm at just over $100 billion in the biggest U.S. initial public offering (IPO) of 2020 and capping a bumper year in which investors flocked to tech stocks.

Airbnb opened at $146 on the Nasdaq, far above the IPO price of $68 per share that raised $3.5 billion for the company. The stock hit a high of $165 and closed at $144.71.

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