Ellie Mae, Inc.
|Company Name||Ellie Mae, Inc.|
On July 27, 2017 Ellie Mae reported financial results for the second quarter of 2017. The Company stated that some of its customers experienced a lower closed loan volume due to declining refi volume, and that “tight housing inventory held back purchase volume.” As a result, the Company cut its full year 2017 guidance.
On this news, Ellie Mae’s stock price fell more than 17% on July 28, 2017, thereby injuring investors.
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