Shares of online real-estate marketplaces Zillow Group Inc (NASDAQ:ZG) and CoStar Group Inc (NASDAQ:CSGP) are gapping lower today, amid news that Alphabet (GOOGL) is testing home for-sale ads at the top of Google search results in certain markets. The new feature displays a carousel featuring property photos, prices, addresses, and other relevant information.
ZG was last seen down 7.3% to trade at $67.11, eyeing its biggest single-day percentage drop since February, after earlier hitting its lowest level since April. The equity is testing a floor at $64, which contained bear gaps in October and November, but is now back below its 20-day moving average. Over the last three months, shares have shed more than 14%.
CSGP is down 6.5% to trade at $63.80 at last check, now on track for its worst day since October while carrying a 25.4% quarter-to-date deficit. The security earlier hit a nearly four-year low of $62, and has struggled with pressure from the descending 20-day moving average since August.
Both equities are seeing unusual options activity today, with overall volume running at 11 times the intraday average amount for ZG, and 19 times for CSGP. Most popular for the former is the February 65 call, while for the latter it's the January 16, 2026 70-strike call, with new positions being opened at both contracts.
