Zillow shares are getting crushed. Here's why
Zillow faced immediate stock declines due to competitive threats from Google, reminiscent of past market shake-ups during tech entries.
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Zillow faced immediate stock declines due to competitive threats from Google, reminiscent of past market shake-ups during tech entries.
What happened, with direct paths to the underlying reporting
Zillow shares plunged over 9% due to Google testing real estate listings. Google's listings could directly compete with Zillow's Premier Agent program. Analysts see limited near-term impacts, but long-term risks persist. Zillow's traffic stems largely from direct sources, potentially mitigating Google’s impact. Stock remains down over 8% year-to-date amid market uncertainty.
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