Redfin’s fall in market is astounding. What are insiders seeing?? Big layoff coming? Bankruptcy or will tide it over? #redfin
I’ve been seeing more homes listed with Redfin lately. Discount brokerages in general. People want to save on their commission as they won’t be selling for top dollar with high rates.
Redfin is very concerning to me. It is losing cash very fast and has only one year cash reserve in the current cash loss pace. If the real estate market is not recovered within 1 year, it is very likely going bankruptcy. I feel bad since I love their app.
Not looking good.
It’s unlikely redfin will go bankrupt. But with the market cap being so low there is the risk of an acquisition.
Blinders predicted correctly.
The real estate market currently is in standstill .. nobody is selling because they simply cannot as prices are down and they don't want to give up their 3% mortgage, nobody is buying due to recession fear and also due to ridiculous mortgage rates... In the meantime places like Redfin make zero money...but they still have to pay staff and keep the lights on, going to be brutal
I actually like their product so this kinda sucks. They made things easier as a customer. I just can’t sell and buy right now.