BofI Holding, Inc. (NASDAQ: BOFI)
BofI Holding is having a rough day in the market today. Since the open, the stock has been in the red, and based on something that’s coming down the wire at the moment, it may get worse. Below, we’ll talk about what we’re seeing, why it may get worse, and what we’ll be watching for with regard to BOFI ahead.
What We’re Seeing From BOFI
As mentioned above, BofI Holding hasn’t had the best of days in the market thus far today. Unfortunately, the stock has seen declines since the opening bell, bringing it well into the red. At the moment (11:04), the stock is trading at $23.13 per share after a loss of $0.92 per share or 3.83% thus far today.
Why The Stock May Fall More
One thing that we watch very closely here is the Twitter stream. We watch for anything that’s circulating the social realm that could affect a stock, and we’re seeing something interesting with BOFI at the moment.
All over Twitter, the experts in the world of investing seem to be sharing a post on Seeking Alpha that surrounds the company. Unfortunately for the company and its shareholders, the post is a bearish attack that starts with “BOFI rally Set To Unwind”. As a result investors will likely react in a negative way.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team is going to follow this story and the reaction in the market closely. We’ve seen Seeking Alpha cause some big drops in the market in the past with reports like these, and BOFI is not immune to this type of effect. Nonetheless, we’ll be watching the story closely and bringing the news to you as it breaks!
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