Airbnb Inc. (NASDAQ: ABNB), a platform that connects hosts and guests to book travel and stay services worldwide, has decided to vacate its Chinese operations in the light of stiff competition and strict lockdowns, the Wall Street Journal reported. Shares sank 2.9% on the news during the extended trading session. Amid a broader tech sell-off and geopolitical uncertainties, ABNB stock has lost 34.4% year to date. Why is Airbnb Leaving China? China is undoubtedly one of the largest markets for technology companies to expand their foothold.
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Airbnb (NASDAQ:ABNB)
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