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Fair Isaac shares have lost 30% of their value over the past five sessions.Fair Isaac Corp. (FICO), or FICO, stock sank more than 9% Tuesday afternoon to lead S&P 500 decliners, continuing their recent drop.
Shares of the Bozeman, Mont.-based credit score provider have lost about 30% of their value over the past five sessions since Federal Housing Finance Agency Director Bill Pulte raised concerns about FICO's pricing and expressed support for more cost-effective credit evaluation options. FICO shares sank 8% last Tuesday and plummeted 16% the following day to again pace S&P 500 decliners.
In other FICO news, it announced Tuesday it had reached a new collaboration agreement with Amazon's (AMZN) Amazon Web Services unit. "Under the new agreement, FICO and AWS will amplify their work to bring more organizations worldwide the power of AI-driven, automated decision workflows with FICO Platform, which runs on AWS," FICO said.
At more than $1,500 each, FICO shares are the fourth most expensive in the S&P 500, trailing homebuilder NVR (NVR), online travel company Booking Holdings (BKNG), and auto parts retailer AutoZone (AZO). Still, they closed at more than $2,200 just last Monday.
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