Realogy's big leap this morning is getting a pullback, which presents a buying opportunity for the risk-acceptant investor. Realogy just launched Turnkey, a collaboration with Amazon to allow home buyers to buy and sell online. The new product has lots of competition in this market, but Amazon's scale gives it an advantage. This collaboration has the potential to bring in big earnings for Realogy, turning around its recent 52-week, 75% slide. In my opinion this news has legs, and could lead to a multi-day run for Realogy's stock.
Comment:
I exited this yesterday when it showed weakness after hours, and now I'm glad I did. If it holds above the hourly moving average at 5.67, I may reenter.