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Ellie Mae, Inc.

Company NameEllie Mae, Inc.
Stock SymbolELLI

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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