Redfin stock drops 10% after extending break-even point for adjusted EBITDA (NASDAQ:RDFN)

Redfin managed house sale

Redfin managed house sale

Sundry Photography

Redfin (NASDAQ:RDFN) stock sank 10% in Friday premarket trading after the online real estate brokerage platform pushed out its expected adjusted EBITDA break-even timeline by about six months to mid-2024.

“We lost market share due to one-time setbacks from agent layoffs andsaid CEO Glenn Kelman.

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