Jun. 1 at 11:35 AM
$REAX Quick math on where this goes:
Today:
$373M market cap at
$1.79
We own 59% of the combined 180k-agent company post-merger
A year ago Real alone was ~
$890M at
$5+, RE/MAX standalone was ~
$300-400M
Combined fair value back to a year ago = ~4/share on sentiment alone
Add rate cuts + housing recovery:
$5 in 12 months
5 yr PT:
$15 if they execute the franchise conversion and take share
Personally I don't see downside risk from here. Real GREW agent count through the worst housing market in 20+ years. Volume off a cliff, rates at 7%, sentiment dead, and they still took share. 180k agents firing once buyers come back = a lot of deals through one platform. 🍻
