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Why Redfin Shares Jumped Today

TheMotleyFool

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Shares of Redfin (NASDAQ: RDFN) climbed more than 10% on Thursday despite little company-specific news. The company has been caught up in a lot of the growth-stock volatility in recent weeks and is recovering along with the market on Thursday.

Redfin shares have covered a lot of ground in a short amount of time so far in 2021. The stock was up 40% for the year as recent as mid-February. But it gave all that up and more in the second half of the month and into March as part of a broader rotation away from high-valued growth stocks and toward value.