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Shares of real estate brokerage Compass (NYSE: COMP) soared today after the company delivered better-than-expected results in its first-quarter earnings report, and said it would be free-cash-flow-positive this year.
The stock closed up 35% on the news.
Compass, which is now the biggest real estate brokerage in the country by sales volume, has struggled since its 2021 IPO as the housing market has slowed down, but the first-quarter results were enough to please investors especially relative to the beaten-down share price.