OPFI - Why Shares of OppFi Are Falling Today
Shares of the subprime lender OppFi (NYSE: OPFI) had fallen more than 10% as of 1 p.m. ET today after the company appointed a new CEO and also provided some guidance on its full-year results for 2021.
OppFi announced that Neville Crawley has "stepped down" from his role as CEO and as a director. The news is shocking because OppFi only appointed Crawley as CEO last December to replace former CEO Jared Kaplan, who had surprisingly stepped down at the time. There was nothing that really explained Crawley's sudden departure in the news release.
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Why Shares of OppFi Are Falling Today