$Airbnb, Inc.(ABNB)$  The chart is absolutely horrific…that alone is clearly illustrating new lows from here.

That said, you have a growing number of cities/states (NYC most recently of note) starting to require licenses or other permits for this service that is going to severely strangle ABNB’s business model. There is growing and considerable push-back on this service arrangement from a vast number of communities/municipalities that is already hampering host growth – this is only going to get worse.

A large brokerage house just recently (BOA or Morgan – ‘forget which) issued a very pessimistic outlook for their growth and future revenues, they put a $60/share price target on the stock (I think it’ll go much lower than that IMO).

As if all that wasn’t enough, we’re heading into a pretty severe recession (by almost all accounts) next year which is always a death knell for the travel/lodging industry.

This isn’t rocket science here, this stock continues to make new lows daily and is very likely to push through it’s ($68/share) IPO price sooner rather than later. With insider lock-ups expired, don’t be shocked to see the selling pressure continue to pick up steam from here. As it approaches that 68 level, the selling will become ferocious.

Watch and learn