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This Tech Stock Has Surprised Wall Street and Climbed 125% in 2023 -- Is It Still a Buy?

Despite a weak real estate market, this disruptor has performed very well.

By Matt Frankel, CFP and Tyler Crowe – Sep 13, 2023 at 6:12AM EST

Real estate technology company Redfin (RDFN +0.00%) crashed in 2022, at one point falling about 96% from its all-time high. However, recent results have been better than expected, and the stock has more than doubled in 2023 so far. Here's why it has done so well, and what investors should keep in mind.

*Stock prices used were the afternoon prices of Sep. 7, 2023. The video was published on Sep. 8, 2023.

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About the Author

Matt Frankel, CFP
Matt Frankel, CFP, is a contributing Motley Fool stock market analyst specializing in the real estate and financial sectors. Prior to The Motley Fool, Matt taught high school and college mathematics. He holds a bachelor’s degree in physics from the University of South Carolina, a master’s degree in mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. He won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act. He is also regularly interviewed by Cheddar, Globe St, The National Desk, and other TV networks and publications for his real estate, financial, stock market, and investing expertise.
TMFMattFrankel
X@MattFrankelCFP

Matthew Frankel, CFP® has positions in Redfin. Tyler Crowe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Redfin. The Motley Fool recommends the following options: short November 2023 $12 calls on Redfin. The Motley Fool has a disclosure policy. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool. 

Stocks Mentioned

Redfin Stock Quote
Redfin
NASDAQ: RDFN
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*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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