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Zillow: Burning Down The House

Published 11/03/2021, 03:31 PM
Updated 07/09/2023, 06:31 AM

One of today’s train wrecks is Zillow (NASDAQ:Z), which I only found out recently decided that no one knew more about real estate data than they did, so they would become the world’s biggest house-flippers. Well, that’s not working out so great. 

I always like to look at where stocks like this peaked, to see if there was any clue. The top price was only nine months ago, back on Feb. 16, when it peaked at $208.11. Well, it has lost about two-thirds of its market cap in that span of time. And this shooting star was the ringing bell marking the top:

 

Close-up Of Zillow Chart.

As you can see, not only is the damage vast, but there is plenty more downside to go:

Zillow Chart.

Latest comments

You dont think this marks the top of housing? No relation to lumber prices??
Awesome. Tide will turn and soon will be a market for us home buyers again. Glad to see Katie woods get burned
I'll buy it at 10
Katie Wood getting buried
hello
not surprised
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