Stock Story -
What Happened: Shares of real estate technology company The Real Brokerage (NASDAQ:REAX) jumped 22.7% in the morning session after the company reported first-quarter results, which blew past analysts' revenue expectations as its completed real estate transactions grew 88% year on year to $7.5 billion. On the other hand, its operating margin missed and its EPS fell short of Wall Street's estimates. Overall, this was a mixed quarter for The Real Brokerage, but the market seems to be encouraged by its robust topline growth, especially in a high-interest rate/tight housing market environment.
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What is the market telling us: The Real Brokerage's shares are somewhat volatile and over the last year have had 54 moves greater than 5%. But moves this big are very rare even for The Real Brokerage and that is indicating to us that this news had a significant impact on the market's perception of the business.
