Why Zillow Group Stock Surged 28% in April
Shares of Zillow Group (NASDAQ: Z)(NASDAQ: ZG) soared 28.2% during April, according to data from S&P Global Market Intelligence. That was enough to send the stock from about $34 per share to $44.
April's strong gain came on the heels of a dreadful March, when Zillow Group shares tanked 39% from $56 to $34 due to the panic over COVID-19. So the stock is still down 21.8% from the end of February.
During April, CEO Rich Barton released his 2019 shareholder letter in which he reviewed some of the company's recent efforts. The company cut 25% of its run-rate operating expenses versus its 2020 plan by taking the following actions:
Source Fool.com
