Airbnb stock has intrigued investors in growth shares since its Nasdaq debut in December 2020. From an initial public offering price of $68 per share, ABNB has soared 223%. It hit an all-time high of 219.94 on Feb. 11, 2021.

What has happened since then? Mostly disappointing. But are things changing?

In February, ABNB stock hit a nine-month high. And the day after its fourth-quarter results were released on Feb. 14, the stock was up 13%.

In recent weeks, Airbnb stock has fallen sharply. However, the stock may find willing buyers near a key technical level, the 10-week moving average.

ABNB stock is sure to start off very sharp in 2023.

On Feb. 15, after the earnings report, the stock started to gap. The stock is up 13% on its highest volume in three months.

Airbnb stock is down almost 49% in 2022, much worse than the 33.1% drop in the Nasdaq composite index. But 2023 is a different story so far. Not only has ABNB stock jumped 69% since Jan. 1. ABNB stock has advanced even further, breaking an important technical level – the 50-day moving average.