As per a report published on August 20th, 2020, Airbnb has advanced with filing confidential documents with SEC or U.S Security and Exchange Commission. This move sets the stage for rolling out an Airbnb IPO.
Filing confidentially has no link whatsoever with the ongoing COVID-19 pandemic. But as per the 2012 Jobs Act, startups can keep their initiatives and efforts for rolling out IPOs hidden. Similar is the case with the Airbnb IPO.
The adverse effects of the pandemic are one of the main reasons for this drop in value. The Airbnb stock market suffered a tremendous setback. Many have been questioning why the Airbnb stock IPO was rolled out at such a time.
Why was Airbnb Public Stock released during the Pandemic?
The move is due to a slight “rebound” that has been taking place in the travel industry. Anticipation is that in the event the Airbnb IPO stock moves forward, the filing would be declared when it is time for a listing.
However, despite the move to file for Airbnb IPO, the total number of shares it is likely to sell has not yet been declared. The company will be able to take a decision depending on the condition of the Airbnb stock market and how things take a turn.