Why Zillow Group Stock Soared 21% in February While the Market Got Clobbered
Shares of online real estate marketing services company Zillow Group (NASDAQ: Z)(NASDAQ: ZG) hit a "home" run in February, with Class C shares (ticker symbol "Z") up 20.8% and Class A shares ("ZG") gaining 20.5%, according to data from S&P Global Market Intelligence.
Those performances were even better than they might seem at first glance when you consider that the S&P 500 index dropped 8.2% last month. The market's sell-off was driven by concerns that the fast-spreading novel coronavirus, COVID-19, could curb global economic growth.
Zillow Class C shares edged down 0.7% over the first three trading days of March through Wednesday, while Class A shares were flat over this period. That brings their year-to-date 2020 gains to 18.1% and 18.8%, respectively. This compares with the broader market's negative 2.8% return so far this year.
Source Fool.com
