Is Now the Right Time to Buy Airbnb Stock?
Airbnb (NASDAQ: ABNB) and other top travel stocks reported strong increases in revenue this year as the industry continues to recover from travel restrictions during the pandemic. But there are lingering concerns about whether the economic softness starting to creep up in auto and retail sales will spill over to the travel sector in the near term.
Wall Street's pessimism has sent Airbnb's stock price down 30% year to date, yet the company is on pace to grow revenue by 38% this year, according to analyst estimates. Does this discrepancy suggest now might be a good time to buy Airbnb stock?
Airbnb has an incredibly powerful brand, and the stock's steep drop in the face of robust revenue growth indicates the answer is "yes."
Source Fool.com
