5 Best Gig Economy Stocks To Buy Now

3. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 57

Airbnb, Inc. (NASDAQ:ABNB) operates a platform that enables hosts to offer stays and experiences to guests worldwide. It is one of the elite gig economy stocks to invest in. The shares of the firm have jumped in the past few months as international travel resumed following the pandemic lockdowns. On July 19, the shares were given a lift as Chinese premier Li Keqiang stated at the World Economic Forum that China will continue to pursue reopening policies with the continuation of international travel. 

On September 23, Tigress Financial analyst Ivan Feinseth maintained a Buy rating on Airbnb, Inc. (NASDAQ:ABNB) stock and lowered the price target to $160 from $214, noting that the company’s strong brand equity and industry-leading status as the alternative lodging provider remained intact. 

Among the hedge funds being tracked by Insider Monkey, New York-based Renaissance Technologies is a leading shareholder in Airbnb, Inc. (NASDAQ:ABNB), with 5.6 million shares worth more than $499 million. 

In its Q2 2022 investor letter, Brick By Brick Capital, an asset management firm, highlighted a few stocks and Airbnb, Inc. (NASDAQ:ABNB) was one of them. Here is what the fund said:

“What is millennial tech?

It is a term I have coined to describe the type of companies I research. It is a disruptive technology that is changing the status quo of a given industry. For example, Airbnb (NASDAQ:ABNB) with the lodging industry. This definition casts a wide net in terms of what sectors I look at, but it is very specific in terms of what type of companies I look at. I also believe focusing on these companies gives me an inherent edge over Wall St. as they are often older and disconnected from what is truly innovative (…read more)