Some tech stocks are down 75% from their highs last year — these are among the biggest losers

People wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City. Spencer Platt | Getty Images News | Getty Images Macro conditions were already troubling for tech. With inflation at a 40-year high and the Federal Reserve signaling a series of interest rate hikes on the horizon, investors started the year by fleeing growth stocks, sending the Nasdaq in January to its worst…

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Opendoor thrives in home-flipping market Zillow just exited as earnings beat estimates

Eric Wu, founder and chief executive of Opendoor, a start-up company that flips homes, at their San Francisco headquarters, May 18, 2017. Christie Hemm Klok | The New York Times A week after Zillow announced its sudden departure from the home-buying market, rival Opendoor reported third-quarter results that topped estimates and issued an optimistic forecast for the rest of the year, sending the stock soaring in extended trading. Opendoor jumped 16% after hours to $22.48. Prior to the post-market rally, the stock was down 1% for the year. Revenue in…

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Opendoor shares soar as investors predict gains in home buying market after Zillow’s exit

OpenDoor is disrupting the real estate market with its new model. It buys homes and sells them on its platform. Opendoor Zillow’s abrupt exit from the home-buying market is leading investors to see an opening for Opendoor. A day after Zillow’s stock fell to a 16-month low, Opendoor shares soared as much as 19%. The San Francisco-based company, which went public late last year through a special purpose acquisition company, pioneered the instant-buying (or iBuying) market, allowing homeowners to sell their property online for cash, rather than going through an…

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Zillow plunges 24% to lowest since July 2020, after company exits home-buying business

Zillow home page Source: Zillow Zillow shares plummeted 24% on Wednesday, after the company announced plans to exit the home-flipping business because of an inability to accurately predict housing prices. Once a pandemic winner due to its central position in the red hot housing market, Zillow has lost-two thirds of its value since February and is trading at its lowest in 16 months. While its core internet marketplace continues grow and produce cash, Zillow reported a third-quarter net loss of over $328 million on Thursday, all tied to its instant…

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Stocks making the biggest moves premarket: Palantir, CyberArk, Utz, eBay and others

Check out the companies making headlines before the bell: Palantir Technologies (PLTR) – The software platform company matched Wall Street forecasts with adjusted quarterly earnings of 4 cents per share and revenue beating analyst forecasts. Sales rose 49% from a year ago, and the stock rallied 5.7% in the premarket. CyberArk Software (CYBR) – The cybersecurity company earned an adjusted 1 cent per share for its latest quarter, compared with a consensus estimate of 2 cents, while revenue came in above estimates with subscription revenue more than doubling from a…

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