- Q2 EPS for these three New Age companies were mediocre considering the strength of the housing market.
- Their new strategy of bundling services to be one-stop shops for home buying/selling has plenty of company. Competition should remain fierce for years.
- The stocks are not priced for weak near-term earnings and many years of excess competition.
- Despite 50% price declines from their '21 peaks, I see the risk of another 50% decline to reflect the challenging earnings outlook.
For further details see:
New Age Realtors Zillow, Redfin And Opendoor: Sad Q2s And Despite 50% Price Drops, Still Too Expensive