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StockNews.com
StockNews.com
Business
Riddhima Chakraborty

1 Stock to Make Sure You Dump From Your Portfolio This Fall

Residential real estate brokerage company Redfin Corporation (RDFN) recently declared the closure of its home-flipping unit RedfinNow. Moreover, it dismissed 13% of its staff, citing deteriorating demand in the housing market.

Earlier in June 2022, RDFN laid off 8% of its workforce. According to RDFN’s CEO Glenn Kelman, “a layoff is awful, but we can’t avoid it.” Oppenheimer analyst Jason Helfstein downgraded the stock stating that the company’s model was “fundamentally flawed.”

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