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Why Shares of Redfin Are Rising Today

·2 min read

Shares of the real estate brokerage Redfin Corp (NASDAQ: RDFN) traded nearly 16% higher as of 3:06 p.m. ET today for no obvious reason. The company reported a net loss of $0.73 per common share for the second quarter of the year, much wider than the $0.29 loss the company reported in Q2 2021. "The housing market took a turn for the worse in the second quarter," Redfin's CEO Glenn Kelman said in an earnings statement.