Zillow Bounces Back
Zillow shares fell off a cliff earlier this month (losing 25% of its value overnight) and the pain finally ended around Nov 16th. Mastery talked up Zillow on Nov 8th in Zillow (Z) is down but not out.
Sure enough, the bottom feeders have noticed and Zillow has bounced back from nearly $23 a share. Today Zillow is up 3.8% to $26.31 despite catching a downgrade from theStreet.com yesterday.
Since Zillow's big decline the company made plans to pick up HotPads.com a rental and real estate search site. The CEO went on CNBC to challenge the haters and explain why they lowered Q4 expectations. Review that interview if you are thinking about going long Zillow. It becomes credible that Zillow has the potential to rake in the revenue in the next few years as more money will be spent on mobile advertising via Zillow.com
Zillow is the largest and most popular real estate site on the internets. Zillow is taking a small piece of the advertising spent on real estate today at $10 billion.
MASTERY Bottom line:
It appears the bottom has set in for Zillow. If the uptrend continues its a clear sign the stock is on the mend.
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