Airbnb's jaw-dropping IPO surge, explained: CNBC After Hours
CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC.com's Ari Levy breaks down Airbnb's blockbuster IPO. Plus, the "After Hours" team explains how businesses could compel employees to take the Covid-19 vaccine.
Airbnb skyrockets 112% in public market debut, giving it a market cap of $86.5 billion
Airbnb shares ended the day up more than 112% in its IPO debut Thursday, the latest tech stock to show monster gains in its first day of trading this year.
Shares of Airbnb originally priced at $68 Wednesday night, but showed a massive pop Thursday afternoon when it opened trading at $146 per share. The company now has a market cap of about $86.5 billion, more than double the valuation the company sought in the IPO just a day ago.
That puts Airbnb past the market cap of travel giant Booking, which has a valuation of more than $86 billion. Competitor Expedia has a market cap of more than $18 billion.
FDA panel recommends approval of Pfizer's Covid vaccine for emergency use
A key Food and Drug Administration advisory panel on Thursday recommended the approval of Pfizer and BioNTech's coronavirus vaccine for emergency use in people over 16 years old, the last step before the FDA gives the final OK to broadly distribute the first doses throughout the United States.
If the FDA accepts the nonbinding recommendation from the Vaccines and Related Biological Products Advisory Committee — which is expected — it would mark a pivotal moment in the Covid-19 pandemic, which has infected more than 15.4 million
Yes, your boss can fire you if you refuse to get a Covid vaccine
Roughly four in ten Americans say they would "definitely" or "probably" not get a vaccine, according to a recent survey by the Pew Research Center. While this is higher than it was two months ago, to achieve herd immunity, experts say that about 70% of the population needs to be vaccinated or have natural antibodies.
Employers, however, may not be taking "no" for an answer.
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