![]() Zillow shares are now down 33% year-to-date. The stock fell as much as 28% on Wednesday alone, extending its three-day loss to 39%. He also said Zillow is laying off 25% of its workforce. Rich Barton, CEO and cofounder of Zillow, made the announcement after market hours Tuesday during the company's third-quarter earning's call. Shares of Zillow extended their three-day plunge as the company abandoned its home-flipping business amid housing-market pressures. Sign up here for our daily newsletter, 10 Things Before the Opening Bell."ZG is exiting a very risky and unprofitable business but it raises questions on management's execution," Bank of America said.From last Friday's close of $103.63 to Wednesday's intraday low of $63.13, the stock has slipped 39%.Shares of Zillow extended their three-day plunge as the company abandoned its home-flipping business.Rafael Henrique/SOPA Images/LightRocket via Getty Images
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