Why Redfin Stock Plunged Into the Red On Tuesday

An apparently cooling U.S. housing market was making investors cool on Redfin (NASDAQ: RDFN) shares Tuesday. Well before market open that morning, Redfin published its latest piece of research on the domestic market, and its key finding was sobering. Redfin added that this was its first recorded uptick in so-called "stale" housing since the start of the coronavirus pandemic.