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Zillow's Big Day

The grand debut of Zillow on the NASDAQ would make anyone wonder why so many people are bemoaning the real estate market. The stock price started the morning at $20, reached $60 at its peak, and closed at $35.77 by the end of the day. That gives the company a $623M valuation, which is pretty good considering they have never made a profit. [HousingWire]