Housing Internet stocks soar on the HW 30 index
Zillow gains after analyst releases optimistic report
The stocks of real estate websites Zillow (Z) and Trulia (TRLA) consistently stand out in daily trading when evaluating their activity levels on the HW 30—HousingWire’s exclusive index of stocks impacting the housing economy.
As of Wednesday, both stocks finished the day higher, with Zillow reaching a new high on momentum from a bullish research report released by stock analyst Chad Bartley with Pacific Crest Securities. Investor’s Business Daily covered Bartley’s note in full. In it, he rates Zillow as outperform or buy, the publication noted.
By the end of the trading day, Zillow’s stock finished up 1.42%, while Trulia’s closed 4.82% higher.
The stock increases experienced among the top real estate Internet firms and mortgage companies stayed on trend with the overall market. Wall Street shook off fears of an impending military strike in Syria Wednesday, prompting the S&P 500 to climb 13.31 points, or 0.81%.
In addition, the Dow Jones Industrial average rose 96.91 points, or 0.65%, to reach 14,930.87 at close. Meanwhile, the Nasdaq grew 1.01%.
The HW 30 followed trend, finishing the trading day up 0.69%, or 6.78 points.