Ellie Mae’s common stock price dropped nearly 17% on Friday as investors reacted to the disappointing earnings report released after the market closed on Thursday.
At one point, the stock was down more than $6 per share, before a small rebound cut the loss to $4.87 per share, to $24.03.
There were 10 members of the Mortgage Industry Equity Composite which closed lower on Friday. KB Home was down 2.18%, while Astoria Financial was down 1.36%.
Redwood Trust was up 1.88%, followed by PHH, up 1.08%, and PennyMac Mortgage Investment Trust, up 0.78%.