◆ Contrarian Corpus
Campaigns / Spruce Point Capital → Zillow Group, Inc.
Spruce Point Capital vs. Zillow Group, Inc.

Zillow Group, Inc. · Z

1 deck published between 2024-03-05 and 2024-03-05 — 103 pages, 103 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2024-03-05 initial thesis

    2024 03 65e67b37ae41db24701b25e5_z_research_thesis_3 5 2024

    103pp · full_deck

    Zillow's Premier Agent core is saturated, NAR lawsuits will compress commissions, Flex/Super App cannot replace it, and aggressive revenue recognition masks decline — shares worth $23-$35 vs $57.