Intuit stock tumbles 7% as software selloff deepens; new $2.2 billion credit line in focus
Intuit shares fell 7.4% to $560.27 by early afternoon Wednesday, leading declines in U.S. software stocks. The drop followed disclosure of a new $2.2 billion revolving credit facility and rising investor concerns over AI-driven competition. Traders are watching next week’s annual meeting and the start of tax season.