Redfin is one stock that you want to buy if you don’t invest in real estate and yet want to get similar returns as real estate investors because it’s a real estate stock. But while many real estate investors think is a good time to buy homes, now is not the time I would buy Redfin stock.
Looking at the technicals, Redfin has a short float of 18.19% and a target price of 8.46. Redfin’s current price is 10.32. So that suggests the stock is expected to fall close to 20% over the next year. Those with a medium investment horizon may wish to look at this stock again during 2024 once it sits beneath the target price so at least it isn’t expected to fall.
Redfin has a market cap of 1.09B and its income is -292.10M. Redfin’s RSI is 51.24 and insider transactions over the last 6 months are down -6.07%.