The company reached its peak in July this year, but then began a gradual collapse, which intensified in the last month.
Short-term rental service Airbnb is facing an outflow of customers. The reason was the “Cleaning Fee” set by property owners. It can be anything and is not taken into account when searching for accommodation. Landlords take advantage of this – for some of them, this fee can exceed $200, which makes renting such an apartment for 1-2 days comparable in price to a room in a five-star hotel.
AIRBNB’s share price reached $153.33 in July, and is currently at $114.09 at the close on Friday, October 27. We expect the stock price crash process to continue similar to the Etsy stock crash.
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