Zillow, Inc. operates an online real estate information marketplace. The company has an online presence: zillow.com and provides information about real estate listings
It IPO'd a week or so ago for $20 but it went as high as $60 but now trades in the $30's. If you were unlucky to get it for $60 do you think it has a chance to get back up there again?
the company has yet to turn a profit.
Its also got competitors. The last house I bought, I used erealty.com which doesn't exist anymore and I now currently use a mix of redfin.com and zillow. But when I tour, I use redfin because its much more convenient. and I'll probably buy my next through redfin.
The volume has also dropped significantly. On opening day (july 20, 2011) ~6 million shares traded. The next day a mere 1M changed hands. The next day it was down to roughly 3.7K shares changing hands. It appears to have now settled at about 300k shares a day, but it is probably too early to tell for certain. It's only been trading 7 days so far on the open market.
Where do you think Zillows going to go? |
