Why Airbnb (ABNB) Soared on Friday?

We recently published a list of Shares of 10 Firms Soar on Friday. In this article, we are going to take a look at where Airbnb, Inc. (NASDAQ:ABNB) stands against other firms that soared on Friday.

Wall Street finished mixed anew on Friday, as investors continued to weigh fresh developments on tariffs and inflation data.

The Nasdaq was the sole index eking out gains, up 0.41 percent. The Dow Jones decreased by 0.37 percent while the S&P 500 was little changed, dipping 0.01 percent.

In line with Nasdaq’s rally, 10 companies predominantly under the technology sector led the charge. In this article, we detailed the reasons behind their stellar performance.

To come up with this list of biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A vacation home luxury bedroom setup with stunning decor showing a desired getaway experience.

Airbnb, Inc. (NASDAQ:ABNB)

Shares of Airbnb, Inc. (NASDAQ:ABNB) extended their winning streak for a third consecutive day, adding 14.45 percent to close at $161.42, as investor sentiment was fueled by its strong earnings performance last year.

In a statement, Airbnb (NASDAQ:ABNB) said it swung to a net income of $461 million in the fourth quarter of the year, reversing a net loss of $349 million in the same period a year earlier, as revenues rose 13.6 percent to $2.5 billion from $2.2 billion on the back of solid growth in overnight stays and a modest increase in average daily rate.

Meanwhile, the New York Times reported on the same day that Airbnb (NASDAQ:ABNB) co-founder Joe Gebbia is set to join the Elon Musk-led Department of Government Efficiency.

Citing people privy to the matter, the report said that Gebbia, a Tesla board member and close friend of Musk, is expected to start shortly, albeit his role in the government remains unclear.

Overall, ABNB ranks 6th on our list of firms that soared on Friday. While we acknowledge the potential of ABNB as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ABNB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.