ABNB - 1 Growth Stock Down 33% to Buy Hand Over Fist Right Now
2024-05-15 08:20:00 ET
Despite many tech-focused enterprises putting up impressive returns in the past year and a half, they still remain well off their peak prices. This one booming business fits squarely into that category. Investors should therefore take a closer look at the opportunity.
I'm talking about Airbnb (NASDAQ: ABNB) , which just reported what I thought was another strong quarter that benefited from healthy travel demand. Shares of this growth tech stock are currently 33% below their all-time high. Here's why it's a stock you should be buying hand over fist right now.
Last year's robust demand trends have carried over into 2024. This is an encouraging sign, especially when you consider the state of the economy. Credit card debt is at record levels, and high interest rates and stubborn inflation have created an uncertain environment. Many retailers are expressing their struggles.
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1 Growth Stock Down 33% to Buy Hand Over Fist Right Now