Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Housing News

US Government debt downgraded, how has Zillow’s stock fared?

Trying times for the stock market

Today, Standard & Poor’s decided to downgrade the credit rating of long-term U.S. debt and the stock market responded negatively, with the Dow Jones dropping below 11,000 as sell-off continues.

The newest real estate related stock to go IPO is Zillow.com which some speculated would not perform well in a down economy, yet they opened on June 20th at $20 per share, well above their original $12-$14 bid speculated while they awaited SEC approval.

While looking at stock symbol “Z” since their debut on the stock market, it looks dismal as the graph shows a dip after skyrocketing early on, but despite dropping $2.07 today during the sell offs, the Z stock still closed at $26.09, well above their original opening price:


Click to enlarge.

Zillow may have taken a small hit today as the market went wild, but nothing that would indicate an unhealthy stock. Early investors that got in at $20 are still up, so Zillow is looking good.

Advertisement. Scroll to continue reading.

Lani is the COO and News Director at The American Genius, has co-authored a book, co-founded BASHH, Austin Digital Jobs, Remote Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

15 Comments

Leave a Reply

Your email address will not be published.

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Social Media

(MEDIA) We’ve warned of this for years, the industry funded it, and Zillow Homes brokerage has launched, and there are serious questions at hand.

Real Estate Technology

(TECH NEWS) It turns out that Internet of Things, like smart bulbs in homes, are not secure and give up your info - here...

Real Estate Marketing

(MARKETING) Your fancy, self-animating website might be making people violently ill, even if it is insanely beautiful. Sorry...

Real Estate Marketing

(MARKETING) Conduit is a CRM that does more than CRM, it analyzes your networking data to help you see how to improve your relationships.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.