Here’s the Only Smart Way to Play the Airbnb IPO

It's been a record-setting summer for IPOs. Vroom Inc., Lemonade Inc., and BigCommerce Holdings Inc. all soared on their initial public offering debuts.

Then came the record-setter, Snowflake Inc. - the largest U.S. software IPO and the biggest company ever to double in value on its opening day.

So this profit-rich, success-soaked moment is opportune for Airbnb, the vacation-rental "unicorn" that's a heavy favorite to go public by the end of 2020.

Good thing, too (for Airbnb). The company's had a rough year, to put it mildly. The company slashed headcount by a quarter back in May, and, as The Wall Street Journal reported, saw its valuation plummet from $31 billion to $18 billion - a rare occurrence for such a celebrated private firm.

So investors are feeling bullish about this company once again, including yours truly - I do think this is going to be a good long-term investment.

Still, this may not be a slam-dunk IPO á la Zoom.

It would be a pricey mistake to rush out and grab the first shares that hit the market. Grab them at the wrong time - the wrong price - and you could be looking at a long, long trip back to the "plus" side of the ledger.