Airbnb’s stock is up a record-breaking 1,428% in one day on Wednesday, after the company reported a quarterly earnings conference call that highlighted its valuation of around $1 billion.
The stock rose to a new record high after the firm reported a full year-end quarter, but its valuation fell to just $1B by mid-morning.
That was well above analysts’ forecasts for $1.,300 per square feet.
The company is still expected to post $1 trillion in revenue in 2018, but analysts have been pessimistic about that.
The valuation has also helped the stock continue to gain value since the start of the year.
Shares of Airbnb rose as much as 8% on Wednesday to $1H9.49.
The surge in Airbnb stock comes as the company has continued to roll out new features to its website and in-app marketplace.
Airbnb’s recent expansion includes a new hotel suite, a new bike-share program and a new way to book a hotel room through the company’s own mobile app.
A number of new features, including its new app, will be available starting Thursday.
Airbnb said it is working to improve its search engine, improve the mobile experience and add new features and functions to its real estate platform.