MarketWatch First Take: Zillow is betting big on flipping houses, and investors seem to like it [MarketWatch]
Zillow Group, Inc. - Class C Capital Stock (Z)
Last zillow group, inc. - class c capital stock earnings: 8/6 04:06 pm
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Source: MarketWatch
Opinion: Zillow is betting big on flipping houses, and investors seem to like it Zillow Group Inc. believes “Uberized” consumers want to instantly buy and sell homes on their phones, so it is making an even bigger bet on real-estate buying despite projections that carry a lot of risk. On Thursday, Zillow ZG, +0.46% said as part of its fourth-quarter results that it would be making more investments in its Zillow Offers service, which lets consumers easily sell their homes to the Seattle-based company. Zillow, which has seen its stock gradually lose nearly half its value since it launched the service in the second quarter of 2018, also announced a shuffling of jobs among its three co-founders, with CEO Spencer Rascoff stepping down and joining the board, replaced by co-founder Rich Barton. Shares of Zillow initially tumbled in after-hours trading on the news, but after company executives predicted that Zillow Offers could add “$20 billion in annual revenue over the next three to fiv
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