Reported 4 months ago
Axos Financial Inc. experienced a major decline in its stock price following a short-selling report by Hindenburg Research highlighting the bank's exposure to problematic commercial real estate loans. Despite initially shedding 4.2% and reaching a 16% intraday loss, the company's shares are down nearly 8% year to date. Axos retorted that the allegations in the report were inaccurate, emphasizing the strength of its collateral protection in adverse market scenarios due to its fund relationship-based lending structure. The bank has ties to former President Donald Trump and has faced scrutiny in the past for its lending practices.
Source: YAHOO