Airbnb stock has both dazzled and intrigued investors in growth stocks since its Nasdaq debut in December 2020. From its initial public offering price of $68 per share, ABNB stock soared as much as 223%, hitting an all-time high of 219.94 on Feb. 11, 2021.
In 2021, the travel industry faced the challenge posed by multiple strains of Covid-19, including the delta and omicron variants. But 2022 is a different story; known cases of Covid-19 have fallen sharply in both the U.S. and Europe. More countries are loosening or ending quarantine requirements for incoming travelers. Fewer tests are being required.
More business travelers, meanwhile, say they are feeling more comfortable about flying again. And a new survey conducted in March by Morning Consult, done on behalf of the American Hotel & Lodging Association (AHLA), finds that sentiment is shifting on the business travel front. The survey notes 77% of business travelers and 64% of employed Americans agree that “it is more important than ever to bring back business travel.”
Airbnb Stock: Is It Rebounding For Real This Time?
Overall, that’s good news Airbnb (ABNB), whose shares achieved a fourth straight week of gains and finished the week less than 19% off a 52-week high.
So, is Airbnb stock a buy now? Or is it time lock in profits and sell?
This story analyzes all facets of the innovator in leisure travel in terms of fundamentals, technicals and mutual fund ownership. All of these elements get inputted into CAN SLIM, IBD’s research-driven seven-point paradigm for successful growth stock investing.
Airbnb Stock Today
ABNB shares have recouped most of their losses after a positive fourth-quarter report. One highlight? Airbnb posted a net profit of 8 cents a share vs. a new loss of 58 cents during the coronavirus-plagued quarter in 2020. The positive earnings also crushed Wall Street’s view for 4 cents. Revenue ripped 78% higher to $1.53 billion, accelerating from a 67% jump in the third quarter of…
All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator
Read more from original source here…