Redfin Stock Slips on Goldman Sachs Downgrade

Core Viewpoint - Redfin Corp (NASDAQ:RDFN) has experienced a significant decline of over 22% since the beginning of November, primarily due to a downgrade from Goldman Sachs and ongoing challenges in the real estate market [1][2]. Group 1: Stock Performance - RDFN is currently down 4.7% at $7.98 following a downgrade to "sell" from "neutral" by Goldman Sachs, citing issues such as home affordability and industry competition [1]. - The stock is on track for its fifth consecutive drop, with a total decline of 22.8$8 price level, which previously acted as a ceiling from May to July, may now serve as a support level for the stock [2]. Group 2: Market Sentiment and Options Trading - Despite a 36% quarterly loss, options traders are showing interest in calls, with 23,188 calls purchased compared to 4,953 puts in the past two weeks on major exchanges [3]. - The Schaeffer's Volatility Index (SVI) for Redfin stock is at 81%, indicating low volatility expectations among options traders, ranking in the low 17th percentile of its annual range [4].