Why Redfin Stock Fell 12% in May
Shares of Redfin (NASDAQ: RDFN) were falling last month after concerns about a slowdown in the real estate market and the broader economy pressured the stock in spite of solid first-quarter earnings results. Redfin also missed the mark with its second-quarter guidance and continued to warn of a housing slowdown over the rest of May.
According to data from S&P Global Market Intelligence, the stock finished the month down 12%.
Image source: Redfin.
Source Fool.com