Zillow

[Triplethought]

Man I have lost soooo much money on Zillow this year. But at $72 it seems like how much further can it drop? Can someone talk me out of buying more please?

[AstuteShift]

Monthly chart looks brutal, they overplayed their hands on the home flipping business and cut out that business

Personally, to trade I would wait for extreme oversold state and take a bite. I prefer to be in companies like Intel where they have a high potential to be in great position especially with the rate AI is advancing

[MarkD]

I bought on todays dump. And think it could drop more. Demographics trends in US housing are strong for at least a few more years. Z should recover imo.

[SOL]

Here is the monthly chart of Zillow. It still has a long way to go before it hits the oversold ranges. If the MACD's were in the 60 to 70 ranges we could expect a quick reveal but they were trading close to the extremely overbought ranges so one should expect more downside

[Yodean]

Man I have lost soooo much money on Zillow this year. But at $72 it seems like how much further can it drop? Can someone talk me out of buying more please?

@TT: Cathie Woods bought more Zillow today, FWIW:

*****
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 the business of buying and selling homes due to unpredictable prices.

Zillow's announcement on Tuesday that it was withdrawing from flipping homes came three years after introducing the Zillow Offers business, which buys homes from owners, performs light repairs on them and sells them later.

Its Class A shares fell as much as 20% to a 14-month low of $68.65 in morning trade. Ark Invest, in its daily report, said it had bought 288,813 shares of the company.

Volatility in home prices in the past few months have hurt Zillow's ability to forecast prices accurately, it said. The company concluded that "continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility."

U.S. median home prices rose 18.4% in July and 14.9% in August before accelerating 18.7% in September.

"Our aim was to become a market maker, not a market risk taker," Zillow top boss Rich Barton said.

At least half of the brokerages covering the Seattle, Washington-based company cut their price targets on Wednesday.

"A shocking end to an ambitious project," said Wedbush analyst Ygal Arounian, cutting his price target on the stock by $19 to $67.

Brokerage Piper Sandler said that though the move indicates the company will return to its roots as an asset-light model, it is a major strategic shift and raises questions about Zillow's future direction.

After announcing the exit, Zillow, which operates the popular home valuation model ‘Zestimates', said it would now focus on helping customers sell homes on its platform.

*****

[Budge]

Man I have lost soooo much money on Zillow this year. But at $72 it seems like how much further can it drop? Can someone talk me out of buying more please?

@TT: Cathie Woods bought more Zillow today, FWIW:

*****
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 the business of buying and selling homes due to unpredictable prices.

I'm seeing data that they unloaded almost 4m shares today.

[SOL]

Man I have lost soooo much money on Zillow this year. But at $72 it seems like how much further can it drop? Can someone talk me out of buying more please?

Consider selling calls every few months if you have enough shares.

EXPI which is in the same sector is starting to look interesting and looks much better than Z and many other candidates in this sector

eXp World Holdings, Inc. provides cloud-based real estate brokerage services for residential homeowners and homebuyers. The company facilitates buyers to search real-time property listings and sellers to list their properties through its various platforms; and provides buyers and sellers with access to a network of professionals, consumer-centric agents, and brokers. It is also involved in building 3D virtual worlds for work, education, and events; and focused on agent website and consumer real estate portal technology. In addition, the company operates SUCCESS print magazine, SUCCESS.com portal, SUCCESS newsletters, podcasts, digital training courses, and affiliated social media accounts across platforms. Further, it provides marketing, training, and other support services to its brokers and agents through proprietary technology enabled services, as well as technology and support services contracted to third parties. The company operates in the United States, Canada, the United Kingdom, Australia, South Africa, India, Portugal, France, Mexico, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, and internationally. The company was formerly known as eXp Realty International Corporation and changed its name to eXp World Holdings, Inc. in May 2016. eXp World Holdings, Inc. was incorporated in 2008 and is based in Bellingham, Washington.

[Triplethought]

Thanks SOL I think I do. I'll look at that. good idea