Shares in real estate franchisor Re/Max bucked a difficult day for markets today, rising 12.7 percent to close at$30.43 in the company’s second day of trading on the New York Stock Exchange. That’s a 38 percent gain for investors who bought in at the initial public offering price of $22.

The Street’s Jim Cramer is taking a cautious attitude, rating Re/Max a sell. Like investors who sold off shares in other companies this week, Cramer said he’s worried about the impact that a U.S. default would have on real estate in general. Source:

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top