Shares of eXp World Holdings (NASDAQ: EXPI) , which offers online professional real estate services, fell 25% or so in April according to data from S&P Global Market Intelligence . However, that decline needs to be put into a broader context, since, at the end of April, the stock was actually off nearly 60% from its February highs.
When eXp World Holdings reported its full-year 2020 earnings in March, they were nothing short of incredible. Revenues were up 84% year over year, adjusted EBITDA increased 357%, and net income went from $9.6 million of red ink to $31 million of black ink. Looking specifically at the fourth quarter, revenues advanced 122%, adjusted EBITDA rose by 175%, and net income rose by 885%. This helps explain why investors had been so upbeat on eXp World Holdings. The stock gained some 670% from May 2020 through April 2021, a period that includes the 60% drop noted above.
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Why eXp World Holdings Fell 25% in April