24/7 Market News Snapshot 07 November, 2024 – REAL BROKERAGE INC (NASDAQ:REAX)

November 7, 2024

DENVER, Colo., 07 November, 2024 (247marketnews.com) – (NASDAQ:REAX) are discussed in this article.
Real Brokerage Inc. has garnered significant attention in the financial markets recently, opening at $5.72 and witnessing a robust trading performance with a current price of $6.216, marking a notable gain of 10.21%. The stock previously closed at $5.640, indicating strong bullish momentum; the higher trading volume of 1.69 million shares underlines the increasing investor interest, suggesting a promising uptrend. Technical analysis indicates resistance levels might be established around $6.30, with support identified near $5.80, making Real Brokerage an intriguing prospect for investors.

In tandem with its stock performance, Real Brokerage has also reported outstanding financial results for the third quarter of 2024. The Company achieved a remarkable 74% increase in revenue, amounting to $372.5 million, compared to $214.6 million in the same quarter of the previous year. This growth reflects Real’s strategic focus on innovation and technology to improve the experiences of both agents and clients.

CEO Tamir Poleg underscored this commitment during the recent RISE 2024 conference, showcasing new initiatives such as Real Wallet, the Company’s inaugural fintech product, which offers agents immediate access to their earnings, and Leo AI, a sophisticated tool designed to enhance client engagement. The Company is further strengthened by a 79% increase in agent count, now totaling nearly 22,500, alongside a substantial rise in transaction activity, culminating in a total transaction value of $14.4 billion for Q3 2024—an increase of 78% year-over-year.

Financial discipline is evident in Real’s net loss of only $(2.6) million, demonstrating progress compared to last year’s $(4.0) million. With an adjusted EBITDA of $13.3 million and cash reserves of $32.0 million, Real Brokerage is poised for continued growth, reinforcing its dedication to leveraging technology in the real estate sector while supporting its agent community.

Related news for (REAX)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.