Long Position on RDFN @ $71.00 on 3/11/2021 (Momentum)

Redfin Corporation (RDFN) operates as a residential real estate brokerage company in the United States and Canada.

The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; originates and sells mortgages; and buys and sells homes.

The company was formerly known as Appliance Computing Inc. and changed its name to Redfin Corporation in May 2006.

Redfin reported Quarter December 2020 earnings of $0.11 per share on revenue of $244.5 million. The consensus earnings estimate was $0.05 per share on revenue of $233.1 million. Revenue grew 4.9% on a year-over-year basis.

The company said it expects first quarter revenue of $249.0 million to $255.0 million. The current consensus revenue estimate is $231.8 million for the quarter ending March 31, 2021.

As the housing market continues to hold and stay strong, home-buyers have been using RDFN's services more than ever with the trend of digitalization of real estate.

Entry Point: $71.00

Trading Range: $9.63 - $98.44

Stop Loss: $67.00

Target Price: $78.50

Position closed on 9/1/2021 at price of $66.00 with a -7.04% loss in 174 days.

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