Slope of Hope Blog Posts

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Exp World Holdings

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White Diamond noted that eXp’s stock price has surged more than 400% since mid-May, carrying its market capitalization to $3.3 billion. The company’s closest peers are ReMax and Realogy, which have market caps of $630 million and $1.1 billion, respectively. eXp’s gross profit last year was $84 million, compared to Realogy’s $1.1 billion and ReMax’s $210 million.

The White Diamond team said eXp’s recent rally was driven by a rapid increase in its agent growth and promotion of Virbela, the company’s virtual reality remote meeting program. They praised the company’s agent recruiting system but noted some drawbacks, like the generous commission structure, which is good for the agent but bad for the company. Further, the structure is a multi-level marketing structure.