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Shares of Redfin Corp. took a dive Monday, after Wedbush backed away from its long-time bullish stance, just as the online real estate services company revealed data showing that home buyers are canceling deals at the fastest rate in more than two years.
Wedbush’s Jay McCanless cut his rating on Redfin to neutral, after being at outperform since before the start of the COVID-19 pandemic. He lowered his stock price target by 36% to $9.
The…
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