We could be seeing a strong backlash to the (non) threat of lawsuits. I have seen quite a few over the years and really believe that the lawfirms are misguided and hedging themselves with stock here. The short position they hold is our very best indicator of a HUGE January effect. Housing is on the mend across the country and that can only result in an ever greater amount of traffic to the Zillow website.
Just hang in there, all will be revealed as we go higher!
I am confident that these suits will be thrown out of court eventually, but in the meantime have caused a 25% discount on the fair value of this stock. I wish they would line these lawyers up and throw them in a vat of fermented cow dung but that's not going to happen anytime soon- the judges all used to be lawyers. So here we sit at 27.50. Great opportunity, but just pathetic how a few unscrupulous manipulators can jack around honest decent hard working people by using their wealth to manipulate the legal system and ultimately the stock they've previously shorted. Bravo Chumps! I HOPE you get hit the hardest with whatever tax plan congress hammers out this month!
Perhaps "stop_this_fraud" wouldn't be so confident if he understood that the lawsuits didn't impact the stock price - in fact it has increased since the class action was filed. What caused the 25% fall in stock price was the weak guidance for display business revenue for the 4th quarter given on the November 6th earnings call. Zillow executives are in big trouble and with the failure to communicate the SEC investigation to investors as they 'rushed' the shelf offering, there is a very good chance that the class action will be successful. Zillow will probably jettison CEO Spencer Rascoff and CFO Chad Cohen in attempt to rehabilitate its reputation with investors. Remember the biggest shareholders are co-founders Barton and Frink and they don't want access to their Zillow ATM disrupted as they keep selling stock at every opportunity.
As for your comment about 'throwing them in a vat of fermented cow dung", I have the same opinion about Zillow executives who impose inaccurate and unwanted zestimate valuations on private property and refuse all reasonable requests to correct or delete the erroneous valuations. It is time that companies like Zillow were subject to some form of regulation to stop this nonsense which is basically the same as online harassment towards the millions of homeowners living with the daily misery of these inaccurate zestimates.
If this stock has any future its interesting how the companies that Zillow has recently acquired took payment in CASH and not Zillow stock. They obviously don't share the blind optimism of some posters on here. There is only one way this stock is going and that's down. No company can alienate millions of potential customers the way Zillow does and be successful in the long term. Zestimates were a gimmick that gave Zillow a public profile in its early days, but like any gimmick the time has come to change the arrogant way Zillow refuses requests to correct them or its failure to adapt will be its achilles heal.