Real Matters (REAL.TO) short, mcap=$388m, price $5.31 vs $5.40

Real estate appraisal services company. Threat from competitors $BKI and $CLGX expansion in this segment – with REAL already losing market share. Reduced need for in-person appraisal due to automation and changing regulatory requirements. Transaction-driven, non-recuring revenues. Lofty valuation benefitted from a small initial base and momentum for growth stocks.