ZG - Why Offerpad Solutions Stock Sank Nearly 15% in December
Shares of Offerpad Solutions (NYSE: OPAD) slumped 14.7% in December, according to data provided by S&P Global Market Intelligence . That decline in the iBuyer's stock price came despite some positive press from several analysts last month. The main issue seems to be the continued uncertainty in the space following Zillow Group 's (NASDAQ: Z) (NASDAQ: ZG) decision to exit iBuying in November.
In November, Zillow upended the emerging iBuying real estate market by exiting after racking up heavy losses. That opened the door to questions about whether this was a Zillow-specific issue or if the iBuying business model didn't work.
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Why Offerpad Solutions Stock Sank Nearly 15% in December