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Despite a weak real estate market, this disruptor has performed very well.
Real estate technology company Redfin (RDFN 8.49%) 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.
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.
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