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It’s nice to wake up to a Russell which is actually a tiny bit red. We had a good hard down day yesterday, and naturally it fought back, but at the moment, all is well. My principal interest and concern is whether or not this is merely the third “bounce point” we’ve seen on the /RTY in recent weeks.
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.
(more…)If you want to know if a second wave is coming, and how bad it is, don’t bother listening to the news. Just watch financial instruments which depend on social aggregation. Restaurants, amusement parks, cruise ships, shopping malls – – that kind of thing. And, since I just took my first plane flight in over half a year, something on my mind……………airlines:
Quite a day, wasn’t it? Turned out pretty well, in spite of the oh-so-predictable buying by the Fed. Anyway, the latest entry in the bizarre-o world of 2020 is the 200% gain that a maker of mediocre doughnuts and dreadful coffee has offered investors in the past six months. Getting bought out didn’t hurt either.
