Why Redfin, Opendoor, and Zillow Plunged Today
Shares of real estate digital brokerage platforms Redfin (NASDAQ: RDFN), Opendoor (NASDAQ: OPEN), and Zillow Group (NASDAQ: Z) were all down heavily today, plunging 5.7%, 9%, and 7%, respectively, on the day.
The fall across the digital brokerages was likely due to the same factor. Today, a federal jury found the National Association of Realtors (NAR) and other large Midwestern residential brokerages liable for conspiring to keep commissions high, awarding the plaintiffs $1.785 billion in damages.
These three companies were not named in the lawsuit and are thought to be digitally savvy disruptors to the traditional brokerage industry. Still, if large brokerages are forced to cut commissions, that would potentially make them more competitive with these three stocks.
Source Fool.com
National Cinemedia Inc. Stock
The community is currently still undecided about National Cinemedia Inc. with 1 Buy predictions and 0 Sell predictions.
With a target price of 6 € there is potential for a 1845.53% increase which would mean more than doubling the current price of 0.31 € for National Cinemedia Inc..
