Airbnb Is Down More Than 30% from Its Peak: Is It a Buy Now?
As a poster child of the sharing economy, Airbnb (NASDAQ: ABNB) has always been a Silicon Valley darling. With high-profile backers like Andreessen Horowitz and Tiger Global Management, Airbnb became one of the world's most valuable start-ups just seven years after its founding.
So it was no surprise when Airbnb made a monster market debut last year even as other travel players struggled to survive the pandemic. Airbnb shares hit $220 in February, more than triple its listing price.
But since then, Airbnb shares have shed 40%. The stock now trades at $131, the lowest since December 2020. Like many high-risk, high-reward stocks, Airbnb has fallen out of favor among value-oriented investors. But for the stock's many fans, is this a chance to buy the dip? Let's find out.
Source Fool.com
