Could Airbnb Be a Millionaire-Maker Stock?

It's been quite a ride for Airbnb (NASDAQ: ABNB) since it went public in 2020 with the shares soaring past $200 twice before crashing back down each time. The shares have clearly been hit by shifting levels of concern over the pandemic. Yet the stock is still up about 12% in the past year, and the company commands a sizable market cap of $105 billion.

Investors might have some pause to buy the stock right now since it still sells at 63 times free cash flow. Yet, the company has a leading position in the travel industry, a history of robust growth, and results are rebounding strongly with revenue up 67% year over year in the third quarter.

Plus, it's got a large and expanding addressable market and is already showing signs of building a tremendously powerful brand. So even at these high levels, Airbnb could still turn a small investment into a big one. Let's dive deeper.

Source Fool.com