Why CoStar Group Stock Wilted on Wednesday

CoStar Group (NASDAQ: CSGP) stock hit a bump on Hump Day, with its share price diving by nearly 10% across the trading session. The company, which concentrates on real estate tech solutions, was hit with an investor sell-off after releasing its latest set of quarterly figures. That decline was particularly glaring on a day when the S&P 500 index closed flat. For its third quarter, CoStar's revenue was $834 million, which was a sturdy 20% higher year over year. That was on the back of a near doubling in net new bookings; these rose by 92% to $84 million.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool