Cathie Wood's Ark Invest on Wednesday capitalized on a sharp drop in Zillow Group Inc's stock price to scoop up shares of the online real-estate firm, as analysts expressed shock over its move to exit
Zillow Group co-founder and CEO Rich Barton admitted on Tuesday that it was a “tough day” when the powerhouse real estate tech company announced plans to exit the home flipping business, a move th
Zillow Group Inc (NASDAQ:Z) shares plunged 24.5% on Wednesday after the company reported an unexpected third-quarter loss and said it will be winding down its homebuying business. Zillow reported a th
Zillow Group Inc. shares plunged Wednesday after the company announced plans to exit its house-flipping business and eliminate 25% of its workforce.
Volatility in the housing market "far exceeds what we anticipated" and makes algorithmic home flipping too risky, Zillow CEO Rich Barton said.
Analysts slashed their ratings on Zillow on Wednesday, a day after the company said it will no longer buy and sell homes because of unpredictable pricing.
Just because a business process can be automated, doesn't necessarily mean it should be automated.
The announcement came as part of Zillow's third-quarter earnings report, which widely missed estimates.
As Zillow faces a grim future, Opendoor looks to gain a market share where its competitor couldn't. So far this is sending OPEN stock up.
Zillow CEO Rich Barton made the announcement after market hours Tuesday, adding the company would lay off about a quarter of its workforce.
The Zillow (NYSE: Z) stock price is under intense pressure after the company delivered a relatively weak quarterly result. The stock slipped by as much as 18% in the morning session.
Zillow had paused, and now will completely wind down, home buying with the division terminating over the next few quarters.

Zillow Quits Home Buying Business; Stock Plummets

10:57am, Wednesday, 03'rd Nov 2021
Zillow Group Inc (NASDAQ:ZG) is plummeting today, last seen 18.2% lower to trade at $69.94, following news that the real estate firm is exiting the home-flipping game on the closure of Zillow Offers.
The real estate tech giant just disappointed investors in a big way.

Why Zillow Shares Are Falling

10:13am, Wednesday, 03'rd Nov 2021
Zillow Group, Inc. (NASDAQ: Z) shares are trading lower after the company reported third-quarter earnings results and said it will wind down its 'Zillow Offers' service. Zillow reported $1.74 billion
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