Here's Why Realogy Stock Is Plunging Today
Realogy (NYSE: RLGY), which owns several major real estate brands including Century 21, Coldwell Banker, ERA, and others, is having a terrible day. As of noon EDT, the company's stock price had fallen by 22%.
The reason? In a regulatory filing, Realogy disclosed that USAA is discontinuing the USAA Real Estate Rewards Network, and that it will have a "material impact on earnings at Cartus [one of Realogy's subsidiaries] and will result in a reduction of in-network homesale transactions for Realogy and its brands."
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Source Fool.com
