What Happened?
Shares of real estate services firm Newmark (NASDAQ:NMRK) jumped 12.1% in the morning session after the company reported strong fourth quarter 2024 results that blew past analysts' revenue expectations, driven by its Investment Sales division. In addition, its EPS and EBITDA beat. On the other hand, its full-year EBITDA guidance missed. Still, this quarter had some key positives.
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What The Market Is Telling Us
Newmark’s shares are not very volatile and have only had 8 moves greater than 5% over the last year. Moves this big are rare for Newmark and indicate this news significantly impacted the market’s perception of the business.
Newmark is up 18.8% since the beginning of the year, and at $14.90 per share, it is trading close to its 52-week high of $15.98 from October 2024. Investors who bought $1,000 worth of Newmark’s shares 5 years ago would now be looking at an investment worth $1,300.
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