[quote=deadzone]Redfin really crapping the bed now, under $9, from all time high over $90. Looks like they may win the race to zero. Really wish I had bought Puts on them, that was a big miss for me, might have been the opportunity of a lifetime.

But don’t worry, housing market will be fine. Carry on.[/quote]

Dont worry someone did. Ive been short on Compass since their IPO a year ago. Understanding the actual economics of real estate brokerages I took one look at all their website and shook my head. I knew they would never make it big as a public company on the route they were taking. I saw hundreds of bios for software engineers proudly displayed with FAANG resumes. I have many as clients, understand what they get paid and that a real estate brokerage could never support that. They had to be living off VC money they could never repay.

I told every realtor friend who went to enjoy the incredible support they provide while they could but to stay away from the stock as it would be under $5 within a year no matter what happens with the stock market. It got there even faster than I expected and probably should cover soon. I also said be careful not to put Coldwell Banker and Berkshire out of business as they are gonna need someone like Realogy to bail them out and acquire them in a few years 🙂