Zillow Under Pressure Amid Rumor Of Short Report
Zillow Group, Inc. (NASDAQ: ZG) has been under heavy pressure on Friday.
After closing at $34.28, the stock opened at $33.96 and continued lower throughout the morning. Traders passed around information of a potential short report against the company, as first reported on Benzinga Pro.
It should be noted that this type of information is price-sensitive, and these types of reports don't always get released after being leaked to traders or the media.
Zillow is up about 29 percent in 2016, for a gain of just over $7.60 per share. With this type of runup, it's not out of the ordinary that this stock would be that target of a short seller.
The stock traded recently at $33.43, down 2.5 percent on the day.
Benzinga will update as more of this story develops.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.