💸Zillow: More reds on the card🥊

As Zillow is delivering its earning result, it was a painful day for investors as the real estate firm showed concerns about its Zillow Offers, its homebuying program.

Essentially Zillow aims to sell about 7000 homes for about $2.8 billion. This translates to about $400k for each House sold. Last quarter, the average selling price was $370,100. If the latest news is correct, it means that Zillow had increased its inventory based on the previous quarter by double. This continued its woes when it stated to stop its home purchase programs through the Zillow Offers program, often known as iBuying, until 2021, which could result in competitors like Opendoor grabbing more market shares.

It was a period of stress moment as the company struggled to achieve operational soundness given its renovation backlog. As a result, most analysts had downgraded the stocks and Pika World continued to be on the side-line before value surfaces for entry.

🪤Supply Chain might be easing🧱

The equity market has been soaring for multiple reasons. For one, it appears that supply chain constraints might be starting to ease. In addition, freight costs are beginning to moderate, indicating that the bottlenecks occur to be softening. For example, the cost of a 40-foot shipping container had fallen to $9500 in October from $10,500 in September.

The Baltic Dry Index, which reflects the cost of shipping raw materials, fell by about 40% in October.

Pika World continues to look for indications of supply chain recovery, which may lead to a further boost for the market.

🚎Rivian: An IPO of great interest🚚

The EV company is set to start its IPO roadshow. The electric truck maker is riding on the wave of a recovery in many EV stock prices.

It is expected to fetch a valuation of $80 billion in late August but has since then moderated to slightly above $60 billion as it aims for an IPO next week.

It will be a counter which Pika World will be interested in exploring the opportunity.