Down 44%, Should You Really Buy Airbnb Stock?
It has been a rough 2022 for many stocks, and Airbnb (NASDAQ: ABNB) is no exception. The stock is down 44% year to date and 48% off its early-2022 high. Taking a step back, the news isn't much better. Since its initial public offering, Airbnb is down 33%, while the S&P 500 has risen 2%.
Sounds like the stock isn't doing so great doesn't it? I disagree: The recent stock slump has provided a compelling opportunity to buy shares of a company with strong business results and a bright future.
Let's start by looking at Airbnb's third-quarter 2022 results, which it reported recently. Revenue for the quarter was $2.9 billion, and net income came in at $1.2 billion. Both were records for the company. Impressively, 42% of Airbnb's revenue fell to the bottom line.
Source Fool.com
