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Why AirBNB Tumbled 12% This Week

·2 min read
Why AirBNB Tumbled 12% This Week
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There will be no party getting started with Airbnb (NASDAQ: ABNB). Shares of the short-term vacation rental outfit tumbled 11.7% this week compared to where they closed last Friday, according to data from S&P Global Market Intelligence, after it announced parties at home rentals could lead to a lifetime ban. Airbnb implemented the ban in August 2020 in a bid to help stop the spread of COVID, but it has now made the ban permanent, while also removing from its listings the filters for "event friendly" homes or locations that said, "party and events allowed."