Why Fair Isaac Corporation Plunged Today
FICO's monopoly on credit scores may be over.
Overview
Shares of Fair Isaac Corporation (NYSE: FICO) plunged 25.4% on Tuesday as of 1:32 p.m. EDT.
Fair Isaac has long been an investor favorite due to its monopoly on the FICO score, a standard credit score used by virtually all lenders when evaluating borrowers for loans.
Details
However, it appears the Trump Administration, along with the rest of the housing industry, is aggressively empowering a new FICO competitor. Needless to say, when a company with a monopoly sees that monopoly erode, the stock can undergo a big rerating. So, it's no surprise to see this big move down today.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.