Episode 175 - AI, Intuit Upheaval, and the Future of Accounting - The Woodard Report Podcast

All right, Heather, what are you seeing out there?

Well, Intuit has been in the news quite prominently over the last week and a half.

And so I have a few things related to Intuit that are very, very newsworthy.

The first one I'm going to start with is Intuit's had quite the stock plunge, Joe.

And I know this has been happening over the last nine months.

Actually,

yes.

Over the nine months, there's been a plunge.

They're at a five-year low.

They're at a five-year low.

It has plunged over 60%.

So on July 29th, 2025, it was trading at a price of $803 and it hit an all-time low last week of $303 per share.

So very crazy.

It dropped 20% in that week alone.

So pretty crazy stuff.

That being said, investors or the analysts are saying that they expect it to rebound.

And that's not surprising.

They still reported a profit.

But what they reported was that tax season was less than what they expected.

And that actually, that little tidbit prompted a lawsuit.

So a lawsuit has been filed.

A law firm that's representing the shareholders filed a lawsuit that alleges that Intuit overstated their pricing advantage for the 2026 tax season.

for TurboTax.

And they reported in their Q2 report, they expected it to be really competitive on price.

And what they reported in their Q3 report was that they missed the mark and they actually lost on price.

All right, Heather, what are you seeing out there?

Well, Intuit has been in the news quite prominently over the last week and a half.

And so I have a few things related to Intuit that are very, very newsworthy.

The first one I'm going to start with is Intuit's had quite the stock plunge, Joe.

And I know this has been happening over the last nine months.

Actually,

yes.

Over the nine months, there's been a plunge.

They're at a five-year low.

They're at a five-year low.

It has plunged over 60%.

So on July 29th, 2025, it was trading at a price of $803 and it hit an all-time low last week of $303 per share.

So very crazy.

It dropped 20% in that week alone.

So pretty crazy stuff.

That being said, investors or the analysts are saying that they expect it to rebound.

And that's not surprising.

They still reported a profit.

But what they reported was that tax season was less than what they expected.

And that actually, that little tidbit prompted a lawsuit.

So a lawsuit has been filed.

A law firm that's representing the shareholders filed a lawsuit that alleges that Intuit overstated their pricing advantage for the 2026 tax season.

for TurboTax.

And they reported in their Q2 report, they expected it to be really competitive on price.

And what they reported in their Q3 report was that they missed the mark and they actually lost on price.