![]() As a result, the company announced that it will end the business and lay-off about two-thirds of its employees. The biggest challenge is that Zillow bought thousands of homes that are currently priced lower than where it bought them. This is a home-flipping business, where the company used its algorithms to buy homes and then sell them at a profit. While the ad business is doing well, the company’s business has struggled recently because of its iBuying feature. The company makes most of its money through the adverts it sells in its platform. In addition to its eponymous brand, the company also owns Trulia and Streeteasy. Zillow is the biggest property portal in the United States. Also, this price is about 66% below its highest level this year. It is trading at $71.90, which is the lowest it has been since August 6. The stock slipped by as much as 18% in the morning session. The Zillow (NYSE: Z) stock price is under intense pressure after the company delivered a relatively weak quarterly result.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |