AX Jul 2024 80.000 call
- Zacks
Axos Financial (AX) Upgraded to Strong Buy: Here's Why
Axos Financial (AX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
- Bloomberg
Trump Lender Axos Sinks After Hindenburg Shorts Bank’s Stock
(Bloomberg) -- Axos Financial Inc., which has lent to properties including former President Donald Trump’s flagship New York tower, plunged after Hindenburg Research said it was short the stock because of the bank’s exposure to problematic commercial real estate loans.Most Read from BloombergModi Vows to Retain Power Even as Party Loses India MajorityShort Sellers in Danger of Extinction After Crushing Stock GainsBonds Climb as Data Put November Fed Cut in Play: Markets WrapMnuchin Chases Wall S
- Reuters
Axos Financial shares fall sharply after Hindenburg takes short position
Hindenburg, a forensic financial research firm, said the bank was exposed to the riskiest asset classes, and had increased its total exposure to the deteriorating commercial real estate (CRE) market, while its peers backed away from the sector. Axos' customer base in the commercial and multifamily segments comprised "borrowers who couldn't get loans from other banks," which has resulted in problem loans for the bank, the short seller said in its report. California-based Axos Financial did not immediately respond to a request for comment.
