Zillow Group’s exit from the iBuying business last month was a wrecking ball for the other companies in this new industry, which make online, all-cash purchases of homes by the thousands. Opendoor Technologies had its stock clipped nearly in half, while the recently public Offerpad Solutions sank below the level of its New York Stock Exchange debut.
The surrender of Zillow (ticker: Z)—after three year’s of effort, and write-offs exceeding half a billion dollars—raised the question of whether anyone can make money in digital…
Source: https://www.barrons.com/articles/ibuying-opendoor-offerpad-stock-pick-51639010437