Has America checked out of Airbnb?
Airbnb is in trouble. Nick Gerli, CEO of real estate consulting firm Reventure, reports, “The Airbnb crash is real,” along with a list of the top ten cities where the company’s revenue has collapsed. “Watch out for a wave of forced selling from Airbnb owners later this year,” Gerli forbodes. https://twitter.com/nickgerli1/status/1673774695693385728 Last month the Wall Street Journal reported, “Airbnb reported higher revenue and profit in the first quarter, but customers reserved fewer-than-expected stays and the company gave a mixed outlook for the second quarter, spooking investors.” And while Investors Business Daily this week forecast “a new, more promising comeback attempt” for Airbnb stock, murmurings of an “Airbnbust” are hard to ignore.
