If you've been tracking Airbnb (ABNB 0.75%) stock in recent months, you might be wondering, is its near-term business growth baked into its current valuation, or does the stock have plenty of runway left? In this segment of Backstage Pass, recorded on Dec. 1, Fool contributor Rachel Warren shares her thoughts with fellow contributor Brian Withers.

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Brian Withers: Brian was wondering about Airbnb at $100 billion. Can investors continue to win with the company?

Rachel Warren: Yeah, absolutely. It's a great question. I completely believe they can. The stock was trading down for a good part of this year, I think sometimes more than 20% or more earlier in the year. I think that some of Airbnb's growth potential was already factored into its price but I do think that there is a lot of runway left for this company.

I think as investors are seeing the company's strong rebound back even as the broader travel industry is recovering much more slowly, I think you're seeing more investors jumping on the bandwagon and I think that that trend is going to continue.

I fully believe this company isn't anywhere close to realizing its full growth potential. I think shares will continue to grow in kind over the long haul especially as the company taps into more of those long-term stays within the broader vacation industry and travel trends are changing.

I think for investors who might be concerned about Airbnb's premium price, maybe taking a smaller position or fractional investing could be a consideration, but bottom-line great company.

I love the business and for me I think it's worth the price tag.

Withers: Awesome. Thanks for that update.