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Market Views

Investors gain big on Airbnb, now worth over $100 billion

At its present trading valuation, Airbnb is more valuable than Uber, and leading hospitality giants Hilton and Marriott combined.

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Airbnb releases $250 million relief fund to help affected hosts

Global investors are cashing big time on the world’s biggest online vacation rental company, popularly referred to as Airbnb.

Following a remarkable comeback, the company’s share began trading on at its debut for $146 per share, more than double its initial public offer price and values the business at more than $100 billion.

The recent valuation of Airbnb represents a major leap, taking into account its previous valuation high of $31 billion in a 2017 financing round.

At its present trading valuation, Airbnb is more valuable than Uber, and more than two leading hospitality giants Hilton and Marriott combined.

What this means

The amazing surge seen in Airbnb’s stock price lately revealed the strong bias of global investors towards its business model and the latest signal in what’s shaping up to be a good week for the company.

  • Airbnb, the biggest and most popular vacation online rental marketplace, known for disrupting the hospitality industry, is now listed on the Nasdaq, under the ticker symbol ‘ABNB’.
  • Airbnb has become a household name amongst millennials and a growing middle-class population, as it has changed the hold big hotel businesses had on the accommodation industry, leading hotels to reform their business strategies.
  • Airbnb is an online marketplace that allows individuals to let out their apartments or spare rooms to intended guests, at prices often lower than hotels.
  • Airbnb makes a cut of 3% commission of every booking from those individuals listing their apartments on Airbnb’s platform, and between 6% and 12% from guests that book via its platform.

What you should know

Nairametrics, a few days ago, did an in-depth analysis on why it felt the company’s IPO might be worth your money.

Though, Airbnb’s seeming entry into the public market looks new, the business has built a consistent pathway of generating impressive revenue that it’s closest rivals (Bookings, Expedia) would turn green at.

  • Last year alone, Airbnb’s gross bookings earnings of $38 billion were 35% that of Expedia and 39% of Booking Holdings Inc., and it kept the momentum fired up, that it closed it amazingly to 62% and 64%, respectively, when taking to account the recent year to date periodicity.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Market Views

Strong gains from WAPCO, Unity Bank limits Bears grip on Nigerian Stocks

Strong gains from WAPCO couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among medium capitalized stocks.

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Nigerian Breweries brings the Bears to party, Investors down N20.5 billion 

Nigerian stocks ended the last trading session on a near-stale mate. the All Share Index dropped by -0.08% to close at 39,331.61 index points as against the -0.40% plunge recorded on Thursday. Its Year-to-Date (YTD) returns currently stand at -2.33%.

  • However, the market trading turnover on Friday printed positive as volume ticked up by +19.18% as against the +101.84% uptick recorded yesterday.
    MANSARD, ZENITHBANK, and FBNH were the most active to boost market turnover.
  • The market breadth closed negative as MORISON led 20 Gainers as against 27 Losers topped by TRIPPLEG at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  1. MORISON up 10.00% to close at N0.66
  2. WAPCO up 9.90% to close at N22.2
  3. NEM up 9.88% to close at N1.89
  4. SKYAVN up 9.54% to close at N3.33
  5. UNITYBNK up 8.96% to close at N0.73

Top losers

  • TRIPPLEG down 10.00% to close at N0.72
  • TRANSEXPR down 10.00% to close at N0.81
  • UHOMREIT down 9.96% to close at N36.6
  • CUTIX down 9.95% to close at N1.81
  • SCOA down 9.90% to close at N2.64

Outlook

Nigerian Stocks ended the mid-week trading session on a slightly bearish note, amid soaring oil prices prevailing at the U.S trading session. At the time of writing this report, Brent crude was trading below $68.70/barrel.

  • That being said, strong gains from WAPCO couldn’t stop Nigerian stocks from closing slightly red, as sell-offs intensified among medium capitalized stocks.
  • Nairametrics envisages cautious buying, on the sentiments that recent price action shows further market correction as bargain hunters keep a tab on Nigerian macros.

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Market Views

Bears take Nigerian stocks hostage, investors lose N82.4 billion

Investor sentiment as measured by the market breadth closed negative with 12 advancers and 47 decliners.

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Bears

Nigeria’s all-share index fell further at the close of trading today, down by -0.40% to 39,364.67 points. Investors losses today stood at N82.35 billion.

  • Year-to-date return and market capitalization settled at -2.26% and N20.5 trillion, respectively.
  • Investor sentiment as measured by the market breadth closed negative with 12 advancers and 47 decliners.
  • Across coverage sectors, the performance was bearish. The NSE insurance, banking, consumer goods, and oil & gas sectors dipped 4.04%, 1.54%, 1.47%, 64 basis points, and 0.65%, respectively.
  • The flip side saw only the industrials improved marginally by 0.19%.

Top gainers

  1. UPL up 9.91% to close at N1.22
  2. MORISON up 9.09% to close at N0.6
  3. CAP up 5.26% to close at N20
  4. WAPCO up 3.59% to close at N20.2
  5. LIVESTOCK up 3.17% to close at N2.28

Top losers

  1. FIDSON down 10.00% to close at N4.41
  2. NNFM down 9.97% to close at N6.32
  3. ENAMELWA down 9.95% to close at N19.9
  4. NEM down 9.95% to close at N1.72
  5. NCR down 9.91% to close at N3.09

Outlook

Nigerian stocks ended the fourth trading session on a weaker note amid soaring oil prices prevailing at the U.S trading session.

  • Today’s bearish trading session was inclined by sell pressure on consumer ticker, DANGSUGAR which lost -6.25%. JBERGER, ARDOVA, and UBA also declined by -7.88%, 9.85%, and -3.64%, respectively.
  • Nairametrics expects intending buyers to seek the advice of certified stockbrokers.

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