The Nasdaq Composite posted a sizable 33% loss in 2022, its worst annual performance since the depths of the Great Recession in 2008, when the widely followed index shed nearly 41% of its value. What's encouraging for investors is that the Nasdaq is up 12% so far this year. But it is still about 27% off its peak from November 2021.  

Investors can look through the volatility to identify individual stocks they'd like to buy. Innovative travel company Airbnb (NASDAQ: ABNB) is up 35% in 2023, despite being down 20% since its initial public offering. Does the recent optimism make Airbnb stock a buy right now? Let's find out.

At this point in time, it's incredibly easy to come up with a compelling bull case for Airbnb. For starters, the business is on fire right now, posting 24% revenue growth in the fourth quarter (ended Dec. 31) to total $1.9 billion. Diluted earnings per share of $0.48 increased 500% year over year. And Airbnb generated positive free cash flow of $455 million during the three-month period. Shareholders should be very encouraged by the fact that Airbnb is in full-on growth mode and that it is firmly profitable. 

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Source Fool.com