Hypoport drops on lack of guidance hike, analyst says

Hypoport SE

23/07/2024 12:39

** Shares in Hypoport  HYQGn.DE  drop around 18% to
one-month low, with an analyst pointing to lack of guidance hike
by the German financial services provider 
    ** Hauck Aufhaeuser analyst Simon Keller says Hypoport did
not raise the FY guidance with Q2 and showing mixed
profitability at an EBIT margin of only 3.2%
    ** This has reset too optimistic expectations, Keller notes
    ** A spokesperson for the company said the slump in the
share price was also due to stop-loss orders being placed at
short notice during the holiday period
    ** If losses hold the stock will see its worst day since
mid-November 2022
    ** Up to the previous session's close, shares nearly doubled
YTD

 (Reporting by Paolo Laudani)
 ((Paolo.Laudani@thomsonreuters.com))