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Compass Just Went Public, Placing Robert Reffkin on a Path to Become America s Youngest Black Billionaire
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Editor’s Note: A previous version of this story listed the final closing price as $19.75. However, a delayed quote released by the NYSE shows the closing price as $20.15.
Compass’ first day on the market is finished. After setting their initial price per share at $18, the tech-enabled brokerage (NYSE: COMP) experienced a small first-day pop that saw the stock touch $22.11 before landing at $20.15 per share a 11.9 percent jump from the public offering price when the New York Stock Exchange closed for the day at 4 pm EST.
The boost in price per share now puts Compass’ estimated market value at $7.3 billion, placing them in the league with the market caps of tech-enabled brokerages like Redfin ($6.83b as of market close) and eXp ($6.27b). Meanwhile, although business models differ, Zillow and Realogy sit at two extremes of that field, with Zillow’s market cap standing at $32.2 billion and Realogy’s market cap at $1.82 billion.
5. Amazon previously looked into opening discount stores for electronics and home goods. The retail giant considered creating stores to sell leftover warehouse items, Bloomberg reported. While the internal talks have been stalled, a physical Amazon store could be perilous for brick-and-mortar electronics companies.
6. Digital fashion companies are aiming to disrupt the industry. From NFTs to digital garments you can buy online and get fitted to your photos, fashion is being digitized. We spoke to a digital fashion house to better understand the crypto-clothing industry. This is what they told us.
7. Microsoft will make mixed-reality headsets for the US army. The tech company landed a multimillion-dollar contract to make headsets used in training and in the field. See how soldiers could use the headsets.
Home / Market News / Personal Finance Daily: Compass CEO Robert Reffkin: COVID created a ‘permanent shift’ in real-estate demand, and don’t post your COVID-19 vaccination card on social media here’s why
Personal Finance Daily: Compass CEO Robert Reffkin: COVID created a ‘permanent shift’ in real-estate demand, and don’t post your COVID-19 vaccination card on social media here’s why
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Palm Beach Daily News
Longtime Palm Beach real estate broker Norma Mirsky, who founded her real estate agency in 1987 and last year sold her office in Palm Beach Gardens, has joined Compass, the fast-growing national real estate technology company.
Mirksy Realty Group’s location at 220 Sunrise Ave. is set become Compass’ Palm Beach office, according to an announcement by Compass.
Mirsky will now head The Mirsky Group under the Compass banner, and eight to 10 agents and possibly more will be making the transition with her, Mirsky told the Palm Beach Daily News.
Mirksy will become a Compass “principal” and oversee a team of agents, she said. Moving into the office will be the two Palm Beach Compass founding principals Stephen Hall, who formerly owned Hall Real Estate in Palm Beach, and Elizabeth DeWoody. Hall and DeWoody joined the Compass network in early 2019 and each oversees a team of agents.
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