10 Best Gig Economy Stocks To Buy

4. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 63

Airbnb, Inc. (NASDAQ:ABNB) is a company that operates an online platform for connecting homeowners to travelers looking to book a comfortable space during their travel. It is based in San Francisco, California.

Concerns about a travel slowdown are leading some investors to avoid Airbnb, Inc. (NASDAQ:ABNB) these days. Travel booking trends are the primary factor fueling these concerns, especially in North America, which is Airbnb, Inc.’s (NASDAQ:ABNB) most important market. In the region, while many people are still making bookings on the app for upcoming trips, the numbers have been falling for booking further out in the future.

Despite this, many investors do still believe in the intrinsic value of Airbnb, Inc. (NASDAQ:ABNB) as a revolutionary force in the travel sector. In the second quarter, the company’s revenue grew 11% to $2.75 billion, and its gross booking value was also up by 11% to reach $21.2 billion. Cash generation in the business is continuing strong, and the biggest reason for optimism when it comes to Airbnb, Inc. (NASDAQ:ABNB) is the fact that the company has a lot of room to grow internationally.

Outside of the US, Airbnb, Inc. (NASDAQ:ABNB) drives revenue growth through its presence in four other countries – Canada, France, the UK, and Australia. However, the company has also been investing significantly to set up operations in nations further away, such as Japan, South Korea, Latin America, India, and Southeast Asia. Seeing as many of these far-off locations are also incredibly popular as cheaper travel destinations, investors are hoping to see greater returns from Airbnb, Inc. (NASDAQ:ABNB) in the long run.

Airbnb, Inc. (NASDAQ:ABNB) was spotted in the portfolios of 63 hedge funds in the second quarter, with a total stake value of $2.6 billion.