Big Rout in PennyMac Stock Caught Wall Street Analysts Off Guard
Mortgage lender PennyMac Financial Services Inc. saw a third of its market value wiped out on Friday after its weak earnings report shocked investors and Wall Street analysts. The selloff...
By Arvelisse Bonilla Ramos · Bloomberg Markets
Mortgage lender PennyMac Financial Services Inc. saw a third of its market value wiped out on Friday after its weak earnings report shocked investors and Wall Street analysts. The selloff is continuing Monday, with the shares posting their worst two-day stretch since March 2020.