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Benzinga
Benzinga
Business
Joel Elconin

PreMarket Prep Charts Airbnb's Q3 Earnings Descent: Why It Could Be A 'Risk-On' Play

Airbnb Gene Munster

Many of the leisure stocks have rallied along with the broad market since mid-October. The reason: many of them fall into the value/low price-to-earnings category. One issue in the sector with that characteristic is Airbnb Inc (NASDAQ:ABNB) which is deep in the red following its third-quarter report. The price action in the issue makes it the PreMarket Prep Stock of the Day.

Sellers Ahead Of Airbnb's Report: The Street was leaning the right way heading into Airbnb’s third-quarter report. After peaking Oct. 26 at $119. 91, it declined to $106.67 on Monday. It rebounded to end Tuesday’s session at $109.05.

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