Down 50%, Is Airbnb a Can't-Miss Buying Opportunity Right Now?
Airbnb (NASDAQ: ABNB) was one of the hottest initial public offerings (IPOs) of the 2020 bull market. Launching at a market capitalization north of $100 billion, the short-term rental and travel platform instantly became one of the largest companies in the world when it went public in December of that year.
But in 2022, the market value of Airbnb turned southward, with shares down around 50% last year. Nobody wants to own growth stocks like Airbnb in a bear market, even if the underlying business is improving. But short-term pessimism from Wall Street can provide fantastic buying opportunities for those looking to grow their wealth.
Here's why investors should consider Airbnb for their portfolios in 2023.
Source Fool.com
