As investors replace residents, Cayucos, gem of the Central Coast, is becoming a seasonal ghost-town [Los Angeles Times (CA)]
Airbnb, Inc. - Class A (ABNB)
Company Research
Source: Los Angeles Times
You'll find fishermen from Fresno and a few families vacationing from Visalia and Bakersfield. You'll find a pair of European road-trippers scouring the sand with metal detectors and a handful of part-time workers commuting from Morro Bay and Los Osos. But these days, Cayucos locals are few and far between. The charming gem along the Central Coast calls itself “the last of the California beach towns,” and it might be right. As cities get bigger and denser up and down the coast, Cayucos has been seemingly preserved in formaldehyde for the last few decades — floating in limbo with virtually zero new development and a population hovering under 3,000. But short-term rentals and skyrocketing home prices are rattling the community's identity, sending longtime locals packing in favor of Airbnb guests. The shift has been so severe that some residents no longer recognize the city where they've spent their entire lives. In a recent op-ed , resident Dell Franklin called the town a “lonel
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ABNB
Earnings
- 8/6/24 - Miss
ABNB
Sec Filings
- 9/26/24 - Form 4
- 9/24/24 - Form 144
- 9/19/24 - Form 4
- ABNB's page on the SEC website