Why Redfin Stock Slumped 16.6% in May

Shares of tech-enhanced real estate brokerage Redfin (NASDAQ: RDFN) fell by 16.6% in May, according to data from S&P Global Market Intelligence. The culprit was a steeper-than-expected net loss in the first quarter even as Redfin benefited from a booming housing market.

Data by YCharts.

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Source Fool.com