Shares in Redfin Corp. soared in their stock market debut Friday as investors bet on the residential real estate brokerageâs growth prospects despite a U.S. housing market thatâs been hampered by a worsening shortage of properties for sale.
The stock climbed $6.70, or 44.7 percent, to close at $21.70. The gain came against a backdrop of mostly sluggish trading on Wall Street. The major U.S. stock indexes ended mostly lower.
Seattle-based Redfin priced its initial public offering of about 9.2 mil...
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