Why CoStar Group Stock Wilted on Wednesday
CoStar Group (NASDAQ: CSGP) stock hit a bump on Hump Day, with its share price diving by nearly 10% across the trading session. The company, which concentrates on real estate tech solutions, was hit with an investor sell-off after releasing its latest set of quarterly figures. That decline was particularly glaring on a day when the S&P 500 index closed flat.
For its third quarter, CoStar's revenue was $834 million, which was a sturdy 20% higher year over year. That was on the back of a near doubling in net new bookings; these rose by 92% to $84 million.
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Source Fool.com
