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Hindenburg targets lender Axos financial
Now, we turn our attention to the next target of the U.S. Research firm - Hindenburg. Axos Financial, which has lent to properties including former president Donald Trump's flagship, New York Tower, has come under Hindenburg's radar. The bank's stock fell 4.2% after the report. Hindenburg said it was short on Axos because of the bank's exposure to problematic commercial real estate loans. Axos Bank's stock fell 4.2% Tuesday, paring much of a loss that reached 16% intraday. Nate Anderson-led Hindenburg said the lender's stock price has an "Aggressive" valuation compared to its peers. The slump left Axos Bank shares at a seven-week low.
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