🔴 Blend Labs Inc is trading 5.5% down today on profit-taking following a recent rally

Blend Labs Inc is trading at $1.65 (-5.46%) as the stock undergoes a pullback following a significant rally in late May.

• The decline follows a surge from $1.47 to $1.92 last week, which was driven by Haveli-related buying interest and momentum from Q1 results.
• No new company-specific catalysts have surfaced for June 2, suggesting the move is primarily driven by investors taking profits after the prior run-up.
• The downward trend appears to be stock-specific rather than a reflection of broader market sentiment, as major indices remain mixed.