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Here’s Why Zillow Stock Is Plunging Again on Wednesday

The stock market was little changed on Wednesday morning, but real estate technology company Zillow (NASDAQ: Z)(NASDAQ: ZG) was a big underperformer. As of 10 a.m. EDT, Zillow’s stock was down by about 17%, and this is on top of a multi-day losing streak for the stock. Zillow released its third-quarter earnings Tuesday afternoon, but it isn’t the latest numbers that are causing today’s plunge.

Zillow took ‘massive losses’ on Phoenix homes, laying off 25% of workforce

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