What Happened?

Shares of real estate technology company eXp World (NASDAQ: EXPI) fell 5.4% in the afternoon session after reports that Google was testing a home sales listings feature in its search results sparked fears of new competition in the real estate sector. 

The potential entry of a tech giant like Google into the home listings space was seen as a major disruption to existing online real estate platforms. The news created a ripple effect across the industry, and eXp World was not the only company affected. Shares of Zillow Group plunged 11%, while Rocket Companies and Compass also saw their stocks fall. The broad sell-off indicated investor concern that increased competition could negatively impact the business models and market share of established players.

The shares closed the day at $10.02, down 5.5% from previous close.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy eXp World? Access our full analysis report here.

What Is The Market Telling Us

eXp World’s shares are very volatile and have had 21 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 21 days ago when the stock gained 5.8% on the news that renewed enthusiasm for Alphabet reinvigorated the artificial intelligence trade, propelling a market rebound heading into the Thanksgiving holiday. The Nasdaq index jumped 2.6% and the S&P 500 gained 1.6%, driven by a 5% rally in Alphabet following the announcement of its upgraded Gemini 3 AI model. This optimism spilled over into the broader tech sector. The rally built on momentum from the previous trading session, sparked by the New York Fed president keeping the door open for a December interest rate cut.

eXp World is down 11.6% since the beginning of the year, and at $10.02 per share, it is trading 22.3% below its 52-week high of $12.90 from December 2024. Investors who bought $1,000 worth of eXp World’s shares 5 years ago would now be looking at an investment worth $275.58.

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