Is Airbnb Stock a Buy Now?
Investors took a quick liking to Airbnb (NASDAQ: ABNB) when the stock debuted in December 2020 and immediately bid the price higher. The first day of trading led to the price more than doubling from the $68-per-share debut price, and it hit intraday highs near $220 by mid-February 2021.
The stock had some ups and downs with each new report related to the COVID-19 pandemic and its economic effects, then started a somewhat bumpy decline beginning in November 2021. Clearly, Airbnb did not escape the bear market and the decline has taken its price below $87 per share at one point in late June. with the stock now trading near 52-week lows, prospective buyers are asking whether or not Airbnb is a buy now. Let's see if we can find an answer.
Airbnb has succeeded as a business because it expanded the scope of the vacation rental industry. While it did not invent the industry, it provided the online tools necessary to make it easier for homeowners to rent individual rooms and spaces. Today, more than 4 million properties worldwide have become available on its platform.
Source Fool.com
