But it seems like every time we have one, this stock inches a little higher.
Im beginning to think that the lawsuits are going to settle for zilch by the time the get to trial - if they do. Pending home sales just hit a 5 year high and it's only going to climb once they start raising interest rates - the rush to jump in will begin. Im a new long at 27.60
I do not think you'll be unhappy with the results here. The stock has 2 great things going for it: a billionaire investor has bought $10s of millions, which is a big deal for a co not even $1 billion market cap, and shorts who are overstaying with their positions. Those 2 facts alone will make for an enjoyable ride back to the 40s, so do not sell too soon. A 3rd factor is buyout rumors, which I discount heavily, although this is a pretty unique business model, and that is not lost on the bigger fish!
I would throw in another issue I feel hasn't really been discussed or appreciated here on this message board; last months acquisition of Mortech. This adds millions of eyeballs to our website which also makes money selling adds (a fact that seems to be lost on many). The bigger part of the picture is also the data base subsequent customer base on RENTAL properties- kindred spirits of sorts and this further extends the Zillow footprint (HUGE). Here's what they had to say on the Mortech website:
November 7, 2012
Exciting News to Share: We're Joining Zillow
" Just a few minutes ago, we announced some exciting news. Mortech has agreed to be acquired by Zillow. You can read details in the press release here.
When we first launched Mortech 25 years ago, we started with a simple objective of bringing the power of technology to help mortgage professionals grow their business. 25 years later, we are extremely proud of the software solutions we have built to expand on our core product and pricing engine. As of today, we have hundreds of customers using our suite of software solutions that include our pricing, lead management, lock desk, and custom website solutions.
Today, we’re excited to join Zillow because we believe that their resources, brand and team will enable us to broaden the reach of our products and deliver even better products to the mortgage professionals who use our service.
We've been impressed with the massive audience Zillow has been able to attract - in September, more than 35 million unique users visited Zillow site and mobile applications, and 1 million borrowers submitted loan requests on Zillow Mortgage Marketplace. In addition, they're led by a team that deeply understands technology and the mortgage industry and shares our commitment to arming mortgage professionals with the tools they need to do a great job serving their borrowers.
With Zillow as our partner, we can help our clients attract and convert even more borrower contacts to funded loans. Having a well-financed and growing company like Zillow behind us will also allow us to invest heavily in our product and support teams to deliver powerful new innovations for our lenders. "
Just saying that in my opinion, if things line up just right, you could be in for the ride of your life on this one. Triple digits? Perhaps someday, but I believe we could climb right back up to last months highs within a few weeks. EGBOK!