CoStar Group (CSGP) Loses on 6th Day on Investor Caution

We recently published 10 Stocks That Vanished in Value CoStar Group, Inc. (NASDAQ:CSGP) is one of the worst-performing stocks on Tuesday.

CoStar Group extended its losing streak to a 6th consecutive session on Tuesday, shedding 4.37 percent to close at $88.46 as investors continued to exercise caution over a legal case involving the company.

Just recently, the company slapped real estate marketplace firm Zillow with a copyright infringement lawsuit and sought damages that could be worth more than $1 billion.

The case stemmed from claims that Zillow published more than 46,000 copyrighted images, which CoStar Group, Inc. (NASDAQ:CSGP) owns.

According to the latter, the images appeared more than 250,000 times on the Zillow platform.

“CoStar Group has built the world’s largest library of real estate photographs. Over decades, CoStar Group has employed or hired thousands of professional photographers who have created millions of real estate images, which are owned and copyrighted by CoStar Group. CoStar Group’s team of dedicated architectural photographers takes, and the company copyrights, over two million original real estate photos annually,” it said.

Additionally, CoStar Group, Inc. (NASDAQ:CSGP) claimed that Zillow has been distributing photos under syndication agreements with Realtor.com and Redfin.

The companies have yet to release a statement regarding the issue.

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