Airbnb stock soared on Friday to a record high after a year of turmoil, but some investors are worried the company may be heading for trouble with regulators.
Airbnb stock rose 1.9% in early trading Friday, after the company said it had a new operating plan in place.
Airbnb stock is up almost 50% since 2014, according to data from the S&P 500 index.
“We are focused on a comprehensive strategic plan to create the most powerful, innovative and inclusive platform for all of our guests and employees in the next several years,” the company wrote in a statement Friday.
The company is also looking to focus on attracting and retaining high-quality staff and developing an ecosystem that is both friendly and welcoming to all guests, according the statement.
It is not yet clear how much of the increase in Airbnb stock has to do with the company’s restructuring plan.
Airbnb, which has a market value of $10.6 billion, is in the midst of a massive restructuring, as it attempts to reorganize itself and cut costs.
It’s still unclear how much the company will pay out to its employees and whether it will be able to hire the people who are leaving, according a source familiar with the matter.
The new strategy is the latest in a series of changes that have led to an upheaval in the company and the rise of rival companies like Airbnb and Zumper.