Intuit stock slides for fourth straight session, on track for worst close since June
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Intuit (NASDAQ:INTU) stock dipped 2.7% in Thursday afternoon trading and on track for the worst finish since mid-June as the tech-heavy Nasdaq (COMP.IND) suffered another day in the red as market participants brace for potentially higher interest rates. 
Shares of the company, a provider of financial management and compliance tools for consumers, small businesses, self-employed, and accounting professionals globally, slid 12.5% in the past five sessions and -40.1% year-to-date. 
Investors have taken a bearish view on Intuit (INTU) since the stock peaked at $694.66 a share on Nov. 26, 2021, now changing hands at just $374.81 at the time of writing. That huge drawdown has been relatively common among tech-related stocks in the face of the most hawkish Federal Reserve since the 1980s to tame inflation pressures, thus concerns about the U.S. economy pushing into recession. 
And INTU's poor performance over the past week comes even as the company expects to turn in fiscal Q1 results above the guidance it provided on Investor Day. Its EPS has missed the consensus estimate only twice out of the past 12 quarters. 
Seeking Alpha contributor Vladimir Dimitrov, who sees INTU stock as a Neutral pick, believes the company's business model has come under pressure given its high momentum exposure.