A Bull Market Is Coming: 1 Growth Stock Down 28% to Buy Before It Skyrockets.
Down 28% over the last 12 months, shares of Airbnb (NASDAQ: ABNB) underperformed the Nasdaq Composite Index, which declined 14% in the same period. But despite a rough go during the pandemic, the company's streamlined business model and burgeoning profitability could position it for long-term success.
Despite being one of the most disruptive hospitality companies in history, Airbnb struggled to create value for its shareholders since hitting the markets through an initial public offering (IPO) in December 2020.
On the first day of trading, Airbnb opened at $146 per share, giving it a market cap of $86.5 billion. Naturally, this was great news for the company's early backers, who bought shares before it went public. But new shareholders were left holding the bag, especially as the pandemic turned the hospitality industry upside down in 2020 and 2021.
Source Fool.com
