I am trying to do some due diligence on Redfin (RDFN), but something big sticks out in their S-1 and 10Q that I don't understand.
On the income statement, it shows something called "Accretion of redeemable convertible preferred stock".
This is listed as a loss of 111 million on their last 10Q, making it look like they had a huge loss. However, their net income is listed as positive at 4.3 million.
Can someone explain what this means and what implication it has for this stock as an investment?
Submitted November 05, 2017 at 10:30AM by skuggic http://ift.tt/2hJwkqP
