Zillow sheds as much as a quarter of its market value as rising interest rates weigh on home sales
The plunge sends Zillow to a new 52-week low and puts the stock on pace for its worst day of trading since going public in 2011. Zillow's new Homes segment appears to be taking off. Home sales platform Zillow ZG shed as much as 25 percent of its market value Wednesday as a downturn in the housing market weighs on the company's core services and drags profits lower.