Down 49% in This Bear Market, Can Airbnb Recover in 2023?
Shares of short-term-rental platform Airbnb (NASDAQ: ABNB) have fallen approximately 49% since the start of the bear market last January, according to data from S&P Global Market Intelligence. That's more than double the 17.5% loss the S&P 500 posted over that same time period, making 2022 a painful year for Airbnb shareholders.
The company has put in a strong recovery since the slow end of the COVID-19 pandemic around the world, posting strong financial results throughout 2022. However, there are some looming concerns that might have investors spooked as we move through 2023.
Global pandemics are not optimal operating environments for travel platforms like Airbnb. 2020 and early 2021 were tough periods for the company, when demand for rental properties on its platform ground to a halt around the world. Luckily for the company, executives were able to secure financing during the beginning of the pandemic and eventually take advantage of the late 2020 bull market, raising money in a record-setting initial public offering (IPO).
Source Fool.com
