Why Avantax Stock Was Down 19.9% This Week
Wealth management and financial planning firm Avantax (NASDAQ:AVTA) saw its share price fall 19.9% this week, as of 1:30 p.m. ET on Friday, according to S&P Global Market Intelligence. The stock price had been down as much as 23.8% during the week. It was trading at about $20 per share as of 1:30 p.m. on Friday, down roughly 21% year to date.
It was a mixed bag for the markets this week as the S 500 was down 0.4%, the Dow Jones Industrial Average was up 0.6%, and the Nasdaq Composite had fallen 1.8% for the week, as of 1:30 p.m. ET on Friday.
The wealth management and advisory firm, which had been known as Blucora up until earlier this year, is focused on "tax-intelligent" financial planning -- meaning it helps clients plan for their future while minimizing the impact of taxes.
Source Fool.com
