eXp World Holdings, Inc. (EXPI), has not been one of the stronger positions in our Ultra portfolio…
For those who read our report, we were expecting big things out of eXp World. Everything was lining up for this company to have a big year, and we wanted to position ourselves to capitalize.
However, the market hasn’t agreed with us, trading down and then sideways since we open the position.
That is until today, as the company smashes their second-quarter earnings report, causing the stock to rally over 30% today!
The street was expecting quarterly earnings of $.05 per share and revenue of $665.0 million. However, eXp World almost quadrupled their expected earnings by posting a $.24 per share and revenue of $1 billion.
Gross profit increased by 133% to $79.9 million, and net income increased by 350% to $37 million.
This was an exceptional report!
This company is disrupting the real estate sector, and the numbers confirm what we have been saying all long. EXPI had a significant move today and we feel there is still plenty of room to run.