Zillow: Burning Down The House
Tim Knight | Nov 03, 2021 03:31PM ET
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:
As you can see, not only is the damage vast, but there is plenty more downside to go:
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.