The shares dropped 2.33% to $29.32 on Wednesday, with trading volume of 3.2 million topping the 50-day average of 2.3 million.
Despite the decline, H&R Block outperformed peers including Intuit, Fidelity National Information Services and Paychex, all of which also fell as broader US markets rose strongly.
The stock closed 54.63% below its 52-week high of $64.62 reached on May 8, underscoring a sharp retreat even after holding up better than some competitors.
Is H&R Block's stock drop a market overreaction or a serious warning sign?
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