Ellie Mae Stock Price Continues to Fall

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Ellie Maes stock price continued its decline in Wednesday trading, as the company had the biggest percentage loss among Mortgage Industry Equity Composite stocks.

Ellie Mae closed down 3.94%. Since it announced its results on Oct. 31 after the market closed, the companys stock has lost $5.27 per share.

Radian, which will release its third-quarter results on Thursday, lost 2.55%. Competitor MGIC Investment Corp. ended the day down 2.52%.

On a day which the Dow Jones Industrial Average gained 128 points, nine of the 17 MIEC stocks closed lower.

A trio of banks led the MIEC gainers. Bank of Hawaii was up 1.48%, Astoria Financial was up 1.38%, and Hudson City Bancorp was up 1.01%.

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