Shares of online real estate platform Zillow (NASDAQ: Z)(NASDAQ: ZG) were pummeled this week. The tech stock‘s weakness was driven by news that Zillow is closing its homebuying business, Zillow Offers.
On Tuesday, Zillow announced it’s winding down its homebuying business after determining that the program could result in “too much earnings and balance-sheet volatility,” explained Zillow co-founder CEO Rich Barton.
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