It has been a tough year for vacation rental giant Airbnb (NASDAQ: ABNB). The general bear market and growing pessimism about the future of travel spending have pushed the stock down 49% year to date.

With 2022 coming to an end, many investors are wondering if Airbnb will fall further in the new year or if it's headed for a recovery in 2023. Let's take a closer look and see.

Airbnb is the largest vacation rental listing platform in the world with over 4 million hosts offering short- and long-term stays in virtually every country. Despite the stock's beaten-up share price, the home-sharing platform had one of its best years ever. The return of travel in 2021 and 2022 helped its revenue, earnings before interest, taxes, depreciation, and amortization (EBITDA), and net income grow in the double digits year over year.

Continue reading

Source Fool.com