JUMP REPORT
Avg Daily Volume: 949,538 Market Cap: 2.35B
Sector: None Short Interest: 21.25
EARNINGS EXPECTATIONS:
THIS QTR: EPS: -.12/share REV: 217.1/M
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LAST QTR: EPS: .04/share ACTUAL: .07/share (BEAT)
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NEXT QTR: EPS: -.76/share REV: 178.25/M
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FULL YR: EPS: -.91/share REV: 764/M
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*These are the base metrics we will be watching against the actual release numbers
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BEAT/MISS RECORD: 43% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) 7.84, 11.45, -15.41
EXPECTED JUMP MOVE: 10-15%
Links To Latest News and Headlines
Redfin Corporation ( NASDAQ:RDFN ), might not be a large cap stock, but it received a lot of attention from a…
The boom in special purpose acquisition companies (SPACs) and flurry of initial public offerings (IPOs) in 2020 and 2021 produced a lot of public companies that are starting to run into serious financial trouble in this difficult economic environment. Banking disruptor SoFi Technologies (NASDAQ: SOFI) was a product of the SPAC boom, and like many of its fellow ex-SPACs, its stock has performed poorly — down about 79% from the peak. In addition to the general cooling off of high-growth stocks, investors are frustrated that SoFi’s core student loan refinancing business remains at a virtual standstill, and there are worries that higher interest rates could hurt its lending operations, by far the more profitable side of the business.
SEATTLE, January 19, 2023–(NASDAQ: RDFN) —The median U.S. home-sale price increased 0.9% from a year earlier to $350,250 during the four weeks ending January 15, the biggest increase in a month, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.
Shares of Redfin (NASDAQ: RDFN) were falling this week in response to a broader sell-off in the stock market as investors reacted to weak economic data and hawkish comments from the Federal Reserve ahead of its next rate-hike decision on Feb. 1. As an online real estate brokerage, Redfin is sensitive to interest rates and mortgage rates, and the stock crashed last year after the real estate market fell sharply, the company issued two rounds of layoffs, and it was forced to shutter its home-flipping RedfinNow business. At the end of last week, Redfin also released a report saying that home sales were slow to start the new year.
The COVID-19 pandemic triggered the largest stimulus response in history from the Federal Reserve and the government during 2020 and 2021, and it’s almost impossible to avoid inflation when so much money is being pumped into the economy in a short time. Rising prices have been felt everywhere, from the grocery store to the gas pump, prompting the Fed to raise interest rates. It’s still well above the Fed’s 2% target, but the rate is certainly trending in the right direction.
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