• Zillow Stock Plunges 20% as a Cooling Housing Market Stymies Its Risky Expansion Plans

    12 days ago - By Fortune

    Zillow's stock plunged as much as 20% late Tuesday after the company warned that revenue this quarter would fall short of Wall Street expectations, exacerbating investor concerns about the prospects of online real-estate startups like Zillow and Redfin as the U.S. housing market is starting to slow down.
    The news caused Zillow's stock to fall as low as $32.40 a share in after-hours trading, or 20% below its official closing price of $41.04 a share. Redfin, another online real-estate company, fell as much as 6.5% in aftermarket trading.
    After nearly a decade of recovery and slow growth, the...
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