Equifax stock price plunged from a high of $142 per share on Sept. 7 to $91.86 on Friday afternoon. The credit monitoring agency is under fire after hackers stole the data of 143 million Americans — half the population of the United States.
Shares plunged nearly 10% in early morning trading Friday, as nervous investors sold their holdings in the company.
Equifax stock price has now fallen 35% since the massive data breach was announced last Friday.
The Federal Trade Commission said it is looking into the security breach and a report that three top executives sold stock worth $1.8 million in the days after the company learned of the breach in August. The breach was not made public until Thursday.
In addition to small individual investors, Equifax stock is owned by big mutual funds, like T. Rowe Price, Vanguard, Fidelity, MFS and BlackRock.
Investors won’t know for sure if those major share holders sold their Equifax stock until after the third quarter ends later this month.
If Equifax’s stock price continues to fall, the company will be forced into bankruptcy.
