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Airbnb Stock Has Surged This Year. Why It Just Got a Downgrade.

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Travel demand has jumped as people chose to go on vacations after largely being stuck at home during the pandemic.

Airbnb stock’s rally came as travel demand recovered, but the jump in demand won’t last, according to KeyBanc.

The downgrade comes after shares of the short-term rental company have surged 60% in 2023. Travel demand jumped as people chose to go on vacations after largely being stuck at home during the pandemic.

 

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Airbnb's stock slumps after KeyBanc downgrade on expectations the leisure travel recovery is saggingKeyBanc downgraded Airbnb Inc.'s stock and said leisure travel is expected to pull back after a strong recovery from the peak pandemic years.
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