A day ahead of its third quarter earnings report, Zillow Groupҳ stock took a hit on Wall Street as a new analyst report highlighted how many homes purchased by the company are now underwater. Class A shares of Zillow Group stock were down 8.6% on Monday to close at $96.62. The latest dive comes two weeks after the Seattle-based real estate company announced that it would not sign any new contracts to buy homes via its home-buying and selling service Zillow Offers. The company blamed a Ӣacklog in renovations and operational capacity constraintsԠand stock dropped more than 10% onŠRead More
Zillow shares fall ahead of earnings. An analyst report states that 66% of the homes it purchased are now ‘underwater.
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