Benzinga | Aug 24, 2021 12:46PM EDT

Why Airbnb Shares Are Rising Today

Shares of several companies in the hotel, restaurant and leisure space, including Airbnb Inc (NASDAQ:ABNB) are trading higher following FDA approval of the Pfizer-BioNTech COVID-19 vaccine, which has lifted reopening names.

Airbnb shares are trading higher by 11.3% over the past month amid fluctuating COVID-19 reopening optimism.

Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences. Airbnb's platform offered 5.6 million active accommodation listings in 2020. Listings from the company's 4 million hosts are spread over 220 countries and 100,000 cities.

Airbnb is trading higher by 7.6% at $158 Tuesday afternoon. Airbnb has a 52-week high of $51.75 and a 52-week low of $18.56.