Shares of alternative accommodations platform Airbnb (ABNB) have been clobbered, down significantly from their highs just north of $200 per share. From peak to trough, the stock fell 55%. Such a decline is indicative of a looming recession and waning demand. While there are potentially harsh headwinds in the firm's future, recent quarters suggest demand is still holding strong. Peak summer travel season and tremendous pent-up vacation demand could pave the way for more promising quarters up ahead. Still, many pundits agree that a recession (hopefully a mild one) could be in store in less than a year.
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Airbnb (NASDAQ:ABNB)
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