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Lost all sense of perspective : Fears of another Wall Street bubble
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Dismiss Lost all sense of perspective : Fears of another Wall Street bubble
By Michael Cogley and Jonathan Jones
December 14, 2020 10.13am
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Lofty valuations for tech companies are leading the industry into bubble territory not seen since the late Nineties, experts have claimed. The warning came after Airbnb shares more than doubled in their trading debut on Thursday (US time), propelling the home rental company to about a $US100 billion ($132 billion) valuation in one of the biggest ever first-day rallies.
Fears over tech bubble after Airbnb’s mammoth $100bn Wall Street debut
The warning comes after Airbnb shares more than doubled in their trading debut on Thursday
12 December 2020 • 6:00am
Lofty valuations for tech companies are leading the industry into bubble territory not seen since the late 1990s, experts have claimed.
The warning comes after Airbnb shares more than doubled in their trading debut on Thursday, propelling the home-rental company to about a $100bn (£75.7bn) valuation in one of the biggest first-day rallies on record.
In the same week, food delivery company Doordash’s market debut saw its shares soar to $189 in New York on Wednesday after being priced at just $102 a day earlier. The surge valued the company at $72bn, twice the market cap of Barclays.