IFS - Chinese wealth management firm sinks the most of financial stocks in past week
The financial stock losing the most ground in the past five sessions (with market cap of $2B or more) is Noah Holdings (NYSE:NOAH), down 15%, as it was downgraded to Neutral by JPMorgan on "lackluster" Q3 growth. The provider of wealth management services in China saw Q3 non-GAAP net income drop 4.2% from Q3 2020 and 16% from Q2. Open Lending (NASDAQ:LPRO) shares sank 15% during the same period. On Nov. 24, the SA Quant rating warned that the stock was at a high risk of performing badly, with poor grades for valuation and decelerating momentum; That's followed by LendingClub (NYSE:LC), which fell 15% in the past five sessions and 24% in the past month, comes down to earth after it jumped 33% during one session in Oct. 28; Reinsurance Group of American (NYSE:RGA) fell 13%; and U.K.-based Prudential Plc (NYSE:PUK) insurer, retirement and asset management firm slides 13%. Turning to financial stocks making the biggest
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Chinese wealth management firm sinks the most of financial stocks in past week