Why Blend Labs Stock Exploded Higher Tuesday Morning

Shares of Blend Labs (NYSE: BLND) charged sharply higher Tuesday, gaining as much as 38.4%. For the second quarter, Blend Labs generated revenue of $65.5 million, up an eye-catching 104% year over year. Blend Labs took a non-cash impairment charge of $391.8 million on its intangible assets and goodwill to adjust the fair value of its Title365 segment.