October 3, 2022

FTX Traders Double Money as Airbnb Stock Soars

2 min read

FTX traders who bought Airbnb stock prior to NASDAQ listed the rental platform have actually simply won big on their bet.
Frontrunners Bet Big on Airbnb
The online rental market went live as a gotten agreement on the exchange on Wednesday, a day before the companys Initial Public Offering.
The worth of the stocks has in fact considering that escalated following the businesss exceptionally expected IPO.
Source: TradingView FTX CEO Sam Bankman-Fried shared news of the listing on Wednesday, explaining that it went live ahead of Nasdaq. FTX, which is comprehended for derivatives trading, has in fact developed a strong credibility for its ingenious operate in the cryptocurrency space.
Formerly this year, the platform noted Facebook and Netflix, to name a few. Its day-to-day trading volume is presently around $2 billion.
The Airbnb derivatives opened at $60 on FTX ——- around the price it was prepared for to open at in the IPO. The arrangements were developed to perform in line with Airbnb stocks market cap at the end of its very first public trading day.
The ABNB share cost was noted for $68 in the IPO, however trading opened at $146, putting its market cap at a huge $86.5 billion.

Airbnb opens at $146, more than doubling the $68/share cost set for its IPO. https://t.co/hX2b2AudmR pic.twitter.com/L1JnulnOLP
——- CNBC (@CNBC) December 10, 2020
After the really first public trading day, the derivatives on FTX wound up being Fractional Stocks agreements.
The expense rise implies that anybody who bought early on FTX has more than doubled their money in less than 48 hours.
ABNB is presently trading at $147 on Nasdaq.

Airbnb opens at $146, more than doubling the $68/share expense set for its IPO.—- CNBC (@CNBC) December 10, 2020