1 Explosive Growth Stock That Could Make Investors a Fortune in 2023
Vacation rental platform Airbnb (NASDAQ: ABNB) may not seem like a moneymaking stock, considering it's down 24% since last year. But the stock has already made investors a lot of money this year. Since the start of 2023, Airbnb's share price has jumped by 27% and there's reason to believe it could keep going.
Let's take a closer look at what's going on with this hot stock -- and why it could continue to blossom in the coming years.
There have been a lot of conditions weighing on Airbnb since its initial public offering in 2021. To start, it went public in one of the most difficult years for the travel industry in history, which was followed by the tech crash and bear market of 2022. Now, investor concern is growing over a potential recession and its impact on travel spending. These factors combined are why the stock is trading around 50% less than its recent high.
Source Fool.com
