The Bear Cave has issued a cautious report on eXp World (EXPI), saying it believes the company’s earnings results on Wednesday will reveal that eXp is losing its highest-producing agents to fast-growing competitor Real Brokerage (REAX). The Bear Cave raises concerns around eXp’s excessive issuance of stock to incentivize recruitment and presents “evidence” of an accelerating deterioration of this company’s core business, a decline it says is underappreciated by analysts and is quickly getting worse. “This company is off-the-beaten-path, yet its problems are incredibly straightforward,” according to the firm.
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