WaFd Shares Soar 6.62% Despite Revenue Plunge

WaFd (WAFD) shares surged by 6.62% today, marking a significant rebound despite the stock price falling to its lowest level since October 2023, with an intraday decline of 3.55%.

Sei Investments Co. significantly reduced its stake in WaFd, Inc. by 44.4% in the fourth quarter. This move by a major investor could signal a lack of confidence in the company's future prospects, potentially influencing the stock price negatively.

StockNews.com recently downgraded WaFd's stock rating from "hold" to "sell." This change in rating reflects a more pessimistic outlook on the company's performance, which could further impact investor sentiment and contribute to the stock's volatility.

Washington Federal, the parent company of WaFd, reported a substantial revenue decline of -91.83% for the fiscal year ending September 30, 2024. This dramatic drop in revenue is a significant concern for investors, as it indicates potential financial struggles and may lead to further declines in the stock price.