TREE - LoanDepot falls below February IPO price as mortgage stocks tank

LoanDepot (LDI) fell Monday to its lowest level since going public three months ago, closing below its $14 IPO price and completely erasing a big pop the stock saw in its first two trading days in February.LDI fell to as low as $13.56 intraday, down 9.2% from Friday’s close and off 66% from a $39.85 intraday peak the stock hit on Feb. 12, its second trading day.LoanDepot shares later partly recovered some, but still closed at $13.70, down 8.3% on the session, 65.6% from Feb. 12’s close and 2.1% from the stock’s February IPO pricing.LDI operates a popular online platform for consumer mortgage originations and refinancings. The company tried to go public in 2015 and looked at an IPO again in 2017, but pulled the plug both times, including a last-minute cancellation in 2015.LoanDepot had only moderately more success in February, completing its third IPO attempt but seeing its shares

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LoanDepot falls below February IPO price as mortgage stocks tank