1 Super Stock Down 92% to Buy Hand Over Fist Before September
Redfin (NASDAQ: RDFN) is a real estate technology company, and it operates one of the largest brokerages in America. The rapid rise in interest rates during 2022 and 2023 shrank the borrowing capacity of most consumers and put the brakes on the housing market, which crushed Redfin's primary business.
With that said, the company continues to deliver modest revenue growth. It's using this tough period to cut costs and right-size its business, which has significantly improved its bottom line.
That hasn't stopped the slide in Redfin stock, which now trades 92% below its all-time high. It's sitting at a rock-bottom valuation based on one widely used measure, and with the U.S. Federal Reserve expected to cut interest rates in September, here's why this could be a golden buying opportunity for investors.
Source Fool.com
