1 Growth Stock Down Roughly 40% From Its All-Time High to Buy Right Now
Airbnb (NASDAQ: ABNB) has been a massive outperformer so far in 2023, crushing the gains of the Nasdaq Composite Index by a huge margin. After a rocky 2022, when the stock dropped an eye-watering 49%, shareholders have adopted a more optimistic view as it relates to the business.
But as of this writing on Aug. 14, Airbnb shares are down 38% from their all-time high set in February 2021. But I'm not worried. Now is a great time to scoop up this growth stock at a discount.
In the three-month period that ended June 30, Airbnb posted revenue of $2.5 billion and net income of $650 million, handily beating Wall Street expectations. The market didn't react positively to the news, however, likely because the sales gain did represent an ongoing slowdown, even though it was still up double digits (18%) from the year-ago period.
Source Fool.com
