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Compass’s Anywhere deal raises questions about industry power shifts
['Brooklee Han']
HousingWire
The real estate conglomerate saw its stock price rise from $7 at close of market on Friday to over $11 at 9:30 Monday morning.
In contrast, Compass’s stock fell from $9.40 at close of market on Friday to a low of $7.76 late morning on Tuesday.
According to experts, the drop in Compass’s stock price is primarily due to it assuming roughly $2.6 billion in debt as part of the acquisition.
Wall Street investors see plenty to like in Compass’s all-stock acquisition of Anywhere Real Estate.
As Steve Murray, senior advisor to HousingWire and founder of real estate consulting firm RTC Consulting, explained, the math tells the story.
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