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Why Is Zillow Stock Tumbling on Monday?

·2 min read
Why Is Zillow Stock Tumbling on Monday?
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The stock market was relatively flat on Monday morning, but real estate specialist Zillow Group (NASDAQ: Z) (NASDAQ: ZG) was a major underperformer. The reason for today's drop is that the company announced it is suspending its Zillow Offers iBuying program for the rest of the year. If you aren't familiar, this is the part of Zillow's business that buys real estate directly from sellers, makes repairs, and then resells the homes.