The lid on its IPO scheduled for this month was lifted by Airbnb. In the widely awaited IPO, the California-based corporation plans to raise up to $2.6 billion. The private tourism rental platform says it will place 51.9 million shares on the market at a unit price of between $44 and $50, in a document filed with the U.S. stock exchange regulator. Airbnb will be estimated at approximately $35 billion at the top of the scale, considerably more than the $18 billion recorded last April when the company increased its debt to boost its balance sheet. The stock will be listed under ‘ABNB’ on the Nasdaq. In mid-December, trading is expected to begin.
Zoom Video Communications Inc (ZM) dropped -15.06 percent to $406.31. The “star” of the lockdowns period failed to meet the expectations of Wall Street for its third quarter financial results. Zoom has indeed, cautiously suggested that growth might well slow down. Adjusted quarterly earnings per share of 99 cents and revenue of $777 million compared to 76 cents and $694 million consensus, were posted by the video conference software developer. As a result the company experienced impressive growth of nearly 370% and solid operating profit and cash flow improvements. The company forecast per share earnings of 77-79 cents for the fourth quarter and revenue in the range of $806-811 million. However, this would still reflect, at the top of the range, 330 percent rise. Not too bad then.
Tesla Inc (TSLA) was up 3.02 percent to close at $584.76 on Tuesday. The automaker will be included in the S&P 500 on December 21 ‘in one go’. Dow Jones Indices had previously collaborated on this matter with the financial community. Tesla has more than $540 billion in market capitalization and will be one of the decade’s biggest inclusions in the S&P 500 Index. The seventh aspect of the index, between Berkshire Hathaway and Visa, will be Tesla.