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Why Redfin Stock Was Gaining Today

TheMotleyFool

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Why Redfin Stock Was Gaining Today: https://g.foolcdn.com/editorial/images/752079/redfin-house.jpg

Shares of Redfin (NASDAQ: RDFN) were moving higher Tuesday after the online real estate brokerage announced a financing deal with Apollo Captial Management. The move will help Redfin build capital during a tough time in the real estate market, and investors applauded the increased liquidity.

As a result, the stock was up 6% as of 2:35 p.m. ET after having gained as much as 14.5% earlier in the session.

Image source: Redfin.

Source Fool.com

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