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Why Regulation Changes Affect eXp World Holdings (EXPI) More Than its Peers

Soumya Eswaran
·2 min read

O’keefe Stevens Advisory, an investment advisory firm, released its first-quarter 2024 investor letter. A copy of the letter can be downloaded here. Soft-landing expectations drove the S&P 500's 11% gain in Q1. Despite geopolitical tensions, the market is cool, however, inflation is still a concern for the firm. The top five positions accounted for almost 34% of the assets held by O’keefe Stevens Advisory. In addition, please check the fund’s top five holdings to know its best picks in 2024.

O’keefe Stevens Advisory featured stocks like EXp World Holdings, Inc. (NASDAQ:EXPI) in the first quarter 2024 investor letter. Headquartered in Bellingham, Washington, EXp World Holdings, Inc. (NASDAQ:EXPI) provides cloud-based real estate brokerage services. On May 13, 2024, EXp World Holdings, Inc. (NASDAQ:EXPI) stock closed at $12.57 per share. One-month return of EXp World Holdings, Inc. (NASDAQ:EXPI) was 29.59%, and its shares lost 6.26% of their value over the last 52 weeks. EXp World Holdings, Inc. (NASDAQ:EXPI) has a market capitalization of $1.946 billion.

O’keefe Stevens Advisory stated the following regarding EXp World Holdings, Inc. (NASDAQ:EXPI) in its first quarter 2024 investor letter:

"EXp World Holdings, Inc. (NASDAQ:EXPI) – The market underestimates the impact of recent NAR settlement and regulation changes. EXP's buyer-tilted business model affects them more than typical real estate brokers. We walk through the unit economics of the changes at a broker and corporate level."

An aerial view of the largest real estate development in the city, symbolizing the company's success.

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EXp World Holdings, Inc. (NASDAQ:EXPI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held EXp World Holdings, Inc. (NASDAQ:EXPI) at the end of the fourth quarter which was 16 in the previous quarter.

We discussed EXp World Holdings, Inc. (NASDAQ:EXPI) in another article and shared Diamond Hill Long-Short Fund's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.