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Airbnb and DoorDash going public

7 December 2020
1907
2 min.
11
Airbnb and DoorDash going public

Stock market

Key stock market events during the week will be the IPOs of DoorDash (DD) and Airbnb, which will take place on Tuesday and Thursday. The FDA decision on widespread use of Pfizer vaccine is due on Thursday.

US major stock indices rose last week despite mixed reports from the Department of Labor in the wake of the COVID-19 pandemic. The growth leader remains the Nasdaq Composite Index, which has grown 38.9 percent since the beginning of the year, up 2.12 percent last week. The S&P 500 and Dow Jones increased by 1.67% last week.

There are also plans to enter the public market this week for companies such as DoorDash and Airbnb.

DoorDash

DoorDash is preparing to go public on 8 December to attract investments of up to $3.1 billion.

On Friday DoorDash updated the price range for its 33 million shares, which will start trading under the ticker "DASH", from the previous $75 to $90 to $95.

Due to the pandemic, DD's revenues increased 3 times in 9 months.

Airbnb revenue

The largest travel platform for booking accommodation around the world has decided on an IPO in a difficult period for itself.

Airbnb's revenues have fallen sharply from 2018 and 2019 levels and it will take some time for the company to return to its previous earnings, even with the recent optimism about the Covid-19 vaccine.

The market value of the loss-making company is expected to be around $35 billion so far.

Pfizer vaccine

The first vaccine against COVID-19 was Pfizer and BioNTech.

The UK was the first country to give emergency permission for the vaccine to be used among its population.

The companies are preparing to deliver 50 ml doses by the end of this year and about 1 billion in 2021.

Pfizer and BioNTech have been awarded government contracts to deliver 100 million doses of the vaccine, valued at $1.9 billion.

Gustave Perna, head of the national public-private project "Warp Speed", said: "I believe that the vaccines will be distributed to the states 24 hours after receiving FDA approval".

On 1 December, the CDC released its initial set of recommendations that the first consignments of any approved vaccine should be received by health workers and those living in long-term care facilities.

Persons1 and Companies10 in the news

Chief operating officer of Operation Warp Speed
1 place
DoorDash
1 place
Warp Speed
2 place
BioNTech
4 place
Nasdaq
7 place
Dow Jones
8 place
AirBnB
9 place
Pfizer
10 place
Section:

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