Very short look at the chart so could be wrong, but there's definitely more bad than good about ABNB.
- High valuation
- possible head and shoulders pattern... watch the 131 level... if it breaks, short
- delta variant (???)
- recent-ish IPO, so volatile
- in a downtrend
- not a meme stock, which means there isn't even meme crowd support for it... but good because most meme stocks are fundamentally stupid
The only good news that could be coming is from earnings, which I think will be good. This summer has been packed with a lot of travel, but Fall/Autumn is not too far away so travel will slow down.
- High valuation
- possible head and shoulders pattern... watch the 131 level... if it breaks, short
- delta variant (???)
- recent-ish IPO, so volatile
- in a downtrend
- not a meme stock, which means there isn't even meme crowd support for it... but good because most meme stocks are fundamentally stupid
The only good news that could be coming is from earnings, which I think will be good. This summer has been packed with a lot of travel, but Fall/Autumn is not too far away so travel will slow down.