RTTNews | Aug 24, 2021 11:22AM EDT

11:22 Tuesday, August 24, 2021 (RTTNews.com) - Shares of Airbnb Inc. (ABNB) are gaining over 8% on Tuesday morning after the home-sharing service provider announced plans to provide temporary housing to 20,000 Afghan refugees.

ABNB is currently trading at $158.72, up $11.93 or 8.13%, on the Nasdaq, on a volume of 10.6 million shares, above average volume of 7.4 million shares. The stock has traded between $121.50 and $219.94 in the 52-week period.

Airbnb and Airbnb.org, a nonprofit founded by the company, will fund and place refugees fleeing Afghanistan amid the Taliban takeover. They will work government agencies and nongovernment organizations to help them.

"The displacement and resettlement of Afghan refugees in the U.S. and elsewhere is one of the biggest humanitarian crises of our time," said Brian Chesky, co-founder and chief executive officer of Airbnb, in a post on Twitter Tuesday. "We feel a responsibility to step up."

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