Airbnb's (ABNB -0.37%) stock has been beaten up by the market since management lowered 2024 guidance earlier this year. However, the company still has a leadership position in travel rentals and the opportunity to grow. Travis Hoium explains why he thinks the stock is cheap in this video.

*Stock prices used were end-of-day prices of Oct. 1, 2024. The video was published on Oct. 3, 2024.