Zillow CEO Spencer Rascoff admits he was surprised by big sell off in Zillow stock on weak revenue forecast
Watching to the CNBC interview with Zillow CEO Spencer Rascoff I was amused that he admitted being surprised by the massive sell off in Zillow stock following the weak 4th quarter revenue forecast. With a sky high PE ratio you would have thought that he and his fellow executives would have considered the market reaction to the 'flat' Q4 revenue forecast. But as you can see in the attached link he was dumbfounded by the question almost 2 days later.
The other amusing comment he made was that consumers were more important that investors; except of course when Zillow publishes ridiculously inaccurate zestimate on homes and refuse to delete or correct the erroneous valuation. No company can ride roughshod over potential customers the way Zillow does and hope to be successful in the long term.