DFH - This Stock Is Down 40% in June -- Is It a Buy?
Dream Finders Homes (NASDAQ: DFH) was founded in 2008 and is based in Jacksonville. It has a large presence in its home market and also operates in the Orlando area, as well as in both Carolinas, Texas, Colorado, and a few other markets.
Until recently, Dream Finders' stock had weathered the market downturn fairly well. But that hasn't been the case in June. Shares of the homebuilder have plunged by about 40% so far this month. While there are some legitimate concerns in the homebuilding space, there's a lot to like about this business, as well.
Dream Finders is a midsized but rapidly growing builder. It closed on 4,874 homes in 2021, its best year yet, and anticipates closing on at least 7,000 in 2022. It entered the year with a massive backlog and expanded its business significantly through the acquisition of Texas-based McGuyer Homes.
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This Stock Is Down 40% in June -- Is It a Buy?