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Why Redfin Stock Lost 17% in August

TheMotleyFool

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Real estate technology company Redfin's (NASDAQ: RDFN) stock lost 17% of its value in August according to data provided by S&P Global Market Intelligence. The housing market might be cooling off after record-high prices, and Redfin stock might be cooling off after gaining 250% in 2020, and another nearly 40% by March 2021.

At the beginning of August, the company posted outstanding second-quarter growth, but it wasn't enough to stop the stock from dropping.

Image source: Getty Images.

Source Fool.com

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