Why Airbnb Jumped 30% in January

Shares of Airbnb (NASDAQ: ABNB) jumped by 30% in January compared to where they closed out 2022, according to data provided by S&P Global Market Intelligence, as the short-term rental and vacation travel platform continued to benefit from the recovery in the travel sector. Airbnb stock lost nearly half its value last year as inflation, rising energy costs, and higher interest rates took a toll on consumers. Airbnb had attained a better than $100 billion market cap despite being a money-losing operation, even if it was trying to achieve scale and was willing to sacrifice profits for growth.