Real estate technology company Redfin (NASDAQ: RDFN) has taken investors on quite a roller-coaster ride. After losing more than 95% of its peak value after the real estate market slowed to a crawl in 2022, the stock has more than tripled from the lows and is up by more than 50% in the past couple of weeks.

However, with Redfin still trading at a rather small market cap ($1.3 billion) and several big catalysts that could help the business over the next few years, it could still be a great stock to buy and hold for the long run.

As Redfin's management has correctly pointed out, the real estate market of the past few years has been terrible. But the company has done a great job of setting itself up for future success by focusing on efficiency and profitability.

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Source Fool.com