Axos Financial slumps after Hindenburg takes short position on lender

Axos Financial

04/06/2024 13:49

** Shares of lender Axos Financial  AX.N  slump 15% to $44.4
premarket
    ** Short-seller Hindenburg Research says it has taken short
position on Axos
    ** The bank has allocated to highest risk asset classes —
53% of Axos' total loan book is exposed to the sharply
deteriorating U.S. commercial real estate market - Hindenburg
    ** Axos Financial did not immediately respond to a Reuters
request for comment
    ** Reuters could not independently verify the claims in the
short seller report
    ** Stock down ~3.9% YTD
  

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))