DataClown
Aug 28, 3:16 AM
$HQY The core conflict lies not in earnings performance, but in interest rates. HealthEquity’s profit engine is interest income generated from HSA custodial cash. Rising rate‑cut expectations directly compress projections for its most lucrative custodial yield. Following its prior sharp run‑up and rich valuation, RBC cutting its price target to
$109 became the final straw for market sentiment.
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