Cathie Wood's ARK Loads Up On More Airbnb Stock, Trims Microsoft Stake: Retail Mood Rises For Hospitality Firm

Cathie Wood's ARK Invest has reportedly increased its position in Airbnb (ABNB) by purchasing over 80,000 shares, according to The Fly, boosting sentiment among retail investors on Stocktwits.

It reportedly spent nearly $9 million on the latest purchase, just a little over a month after acquiring more than $10 million worth of shares in the online hospitality firm.

Ark also disclosed it offloaded some Microsoft (MSFT) stock.

The move comes as Airbnb insiders sell shares.

CEO and chairman Brian Chesky has sold at least $92.5 million of his shareholding this year, while CFO Ellie Mertz, CTO Ari Balogh, and Chief Strategy Officer Nathan Blecharczyk have also sold shares worth millions of dollars.

Airbnb shares climbed steeply to a nearly 10-month high in mid-February after the company published strong Q4 results. They are now down nearly 30% from that peak.

Per its latest update, the global hospitality company is seeing healthy demand in Asia, particularly from Chinese consumers visiting Southeast Asian destinations.

Last week, Morgan Stanley lowered its price target on the company's shares, pending more details regarding the impact of U.S. trade tariffs.

On Stocktwits, the retail sentiment climbed higher in the 'bullish' territory, although the message volume was low.

Airbnb shares are down 12.6% year to date. The company will announce quarterly results on May 1.

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