Stock Market Update, Jan. 7: Compass Announces $750 Million Notes Offering

Compass (NYSE:COMP) closed at $11.85, a 9.37% increase, despite a 41% decline since its 2021 IPO. Trading volume surged to 94.7 million shares, driven by the company’s raised fourth-quarter guidance, a $750 million convertible notes offering to fund its merger with Anywhere Real Estate, and positive shareholder sentiment regarding the merger. The S&P 500 dipped 0.34% while the Nasdaq Composite rose 0.16%, with Zillow Group gaining 2.39% in the Real Estate Services sector.

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