Why Redfin Stock Is Falling Hard Today
Shares of Redfin (NASDAQ: RDFN), an online real estate brokerage, were plunging this morning after an analyst downgraded the company's stock and said that Redfin's business is "fundamentally flawed."
Unsurprisingly, some investors quickly hit the sell button this morning, sending Redfin's shares down 13.1% as of 10:39 a.m. ET.
Oppenheimer analyst Jason Helfstein downgraded Redfin's stock to underperform (essentially a sell recommendation) from perform and put a price target on its stock of just $1.30.
Source Fool.com
