Why Zillow Group Slumped 18.8% This Week
Shares of Zillow Group (NASDAQ: Z) slipped as much as 19.3% this week, according to S&P Global Market Intelligence. The digital real estate platform didn't release any company-specific news. However, the broad market sell-off and rising interest rate environment likely caused investors to get nervous about Zillow's prospects over the next few years. As of market close on Thursday, the stock was down 18.8% this week.
There was a whirlwind of news/events that affected Zillow stock this week. First, most simply, the broad market continued to tumble because of high inflation readings and fears over a recession. The Nasdaq 100 Index is down almost 10% just in the last five days, which likely brought Zillow shares down as well.
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Source Fool.com
