ABNB: Overvalued with No IncomeABNB is set to report earnings after-hours today and currently there are news headlines out there that fund managers are expecting good earnings (at least that's what the title would lead you to believe). If you read any of the articles in their entirety, you'll find that the news isn't all that great and a few are even comparing ABNB's financials and growth with competitors like Expedia rolling out comparable services to ABNB. Another thing to note is the high volume of insiders selling shares. Perhaps they know this pig is too fat and need a good trimming. Their P/E is also over 100 which is a big red flag in this environment as well as their -7.21 EPS. I'm expecting a move to 180 during cash session today, but not expecting earnings to shoot this stock up any more. I have a price target of $105 in the short to medium term.
Not financial advice
