loanDepot(LDI) shares plunge 20.00% in three days as Brandywine Global cuts stake 99.1%

loanDepot(LDI) shares plummeted 2.52% today, marking the third consecutive day of decline, with a cumulative drop of 20.00% over the past three days. The share price hit a record low today, with an intraday decline of 6.72%.

Brandywine Global Investment Management LLC significantly reduced its stake in loanDepot, Inc. by 99.1% in the fourth quarter. This substantial reduction in investment may have contributed to a decrease in investor confidence, potentially impacting the stock's price negatively. The move by Brandywine Global, a prominent investment management firm, has raised concerns among investors about the company's future prospects and strategic direction. The reduction in stake suggests a lack of confidence in loanDepot's ability to navigate the current market challenges and maintain its competitive edge. This news has likely contributed to the recent decline in loanDepot's stock price, as investors reassess their positions in light of the firm's reduced involvement. The market reaction underscores the sensitivity of loanDepot's stock to changes in institutional investment, highlighting the importance of maintaining strong investor relations and transparency in corporate governance.