Michael Hakes - CFA, MBAAirbnbABNBBUY ON WEAKNESSSep 15, 2023

True, every company used Collision as a platform to shill their services, but as Branch stressed, building trust is “foundational” for Airbnb. If hosts and guests don't trust each other, then the entire platform collapses. In the first half of 2023, the platform has been performing well. In early May, the company announced it expected fewer bookings in Q2 2023 vs. the previous year. The outlook is part the entire travel sector returning to pre-Covid travel patterns even as inflation remains high and fears of a recession hang in the air. In Q1, Airbnb's gross booking value rose 19% to $20.4 billion in line with a 19% climb in nights and experiences booked to 121 million. Airbnb also faces competition from Booking.com and Vrbo. Personally, I've used all three and consider them good, though I prefer Airbnb's system because I can directly message a host. Plus, their system encourages user reviews.

Our PAST TOP PICK with ABNB has triggered its stop at $105.  To remain disciplined we recommend covering the position at this time.  This will result in a net investment gain of 22%, when combined with our previous buy recommendations. 

Our PAST TOP PICK with ABNB has achieved its $137 target.  To remain disciplined, we recommend covering half the position now and trailing up the stop (from $90) to $105.  

Our PAST TOP PICK with ABNB is progressing well.  To remain disciplined, we now recommend trailing up the stop (from $80) to $90.