Real estate broker Redfin jumps in stock debut

Posted by A4MFP on

Shares in Redfin Corp. soared in their stock market debut Friday as investors bet on the residential real estate brokerage’s growth prospects despite a U.S. housing market that’s 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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