Stock Market Sell-Off: Is Airbnb a Buy?
When Airbnb (NASDAQ: ABNB) came to the public markets in late 2020, its initial public offering (IPO) generated plenty of buzz, with shares ending the first day up 112%. Unfortunately for the company and its shareholders, the stock's journey over the ensuing months has been less positive.
As of this writing, Airbnb's shares trade for $108, a 49% drop from its 52-week high. But based on the results the company reported recently, there's reason to believe its fortunes could change over the coming quarters.
When Airbnb reported its second-quarter 2022 results in early August, it was against the backdrop of rising interest rates, recession fears, and an uncertain economic future. Considering that context, the company's performance was especially impressive.
Source Fool.com
