Why Zillow Group Tanked 12% in October

Shares of Zillow Group (NASDAQ: Z) (NASDAQ: ZG) declined by 12% in October, according to data from S&P Global Market Intelligence. The online real estate portal's fall from $102 per share to $89 per share during the month came on the heels of the stock's 19% surge in September.

Zillow Group shares were up 95% year to date through the end of October, which constitutes a massive rebound from their low point in mid-March, when they were down by 49% for 2020.

Last month was a fairly slow news period for Zillow. The biggest reveal was that it appointed Claire Cormier Thielke to its board of directors. According to the press release,

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Source Fool.com