Before the opening bell, eXp World Holdings, Inc. (OTCQB: EXPI), the holding company for The Agent-Owned Cloud Brokerage®, announced its retention of MZ Group as its investor relations advisor. Moving forward, MZ Group will assist and advise EXPI regarding its ongoing communications with shareholders with the aim of strengthening the company’s public brand and broadening its investor base.
“We have chosen to partner with MZ Group to bolster our investor relations and outreach efforts during this time of rapid growth within our Company,” Glenn Sanford, founder, CEO and chairman of EXPI, stated in this morning’s news release. “While we have more than doubled in size over the past year due in large part to the dedicated efforts of our existing agent and broker network, we believe there is room for sustained growth as we continue to invest in our core infrastructure and agent and broker network.”
In recent months, EXPI, through the expansion of subsidiary eXp Realty, has recorded strong growth in terms of both market reach and financial results. As of its latest report, the company’s real estate brokerage division had more than 2,200 real estate professionals spanning 41 states, the District of Columbia and parts of Canada. This marks an increase of nearly 155 percent from the beginning of 2016, when eXp Realty reported just 864 agents.
This market growth has translated into strong financial performance for EXPI in 2016, demonstrating the viability of the company’s current growth strategy. Last month, EXPI released its financial results for the third quarter of 2016, which included a 112 percent year-over-year increase in total revenues to $15.7 million. In the update, the company’s management team attributed this increase to eXp Realty’s growing sales agent base and the resulting rise to sales volume being generated by the real estate brokerage division.
EXPI’s share price has been on a similarly-promising upward trend throughout much of 2016. In January, the company’s PPS hovered around $0.84. By October, EXPI’s common stock climbed to a record high of more than $5.80 following the announcement of a new strategic partnership with Commissions, Inc., a leading provider of web-based real estate marketing and CRM software. The company’s stock is currently trading at around $4.35 per share.
News of EXPI’s retention of MZ Group comes just days after the company’s real estate brokerage division was recognized as a winner of the Oklahoma 2016 Top Workplaces Award by The Oklahoman newspaper. eXp Realty has previously received similar recognition in both Washington, D.C. and Atlanta for its commitment to creating a collaborative, engaging and rewarding work environment.
For more information, visit the company’s website at www.eXpWorldHoldings.com
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