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u/richyfin
REDDIT_SCRAPED
UWMC stock has declined ~80% from its 2024 high of $9.50 to ~$2, primarily due to CEO Mat Ishbia withdrawing $4.4 billion from the company since 2021 to fund NBA team purchases, exceeding the company's cumulative $3 billion in earnings and creating a $1.4 billion deficit. Key risks include potential margin calls on the CEO's leveraged positions, continued shareholder dilution from unsustainable dividend payments, and governance concerns around related-party transactions.