The All Ordinaries Index (ASX: XAO) is up 0.5% in early afternoon trade today, with no thanks to this crashing ASX All Ords stock.

The under pressure company in question is Humm Group Ltd (ASX: HUM).

Shares in the diversified financial services company closed yesterday at 77.5 cents. In earlier trade, shares were trading for 59.5 cents each, down 23.2%. At the time of writing, shares have recovered a touch, trading for 62.0 cents apiece, down 20.0%.

Despite that big sell down, as you can see in the chart below, shares have remained up 45% since this time last year. Humm shares also trade on a fully franked 3.4% trailing dividend yield.

Here's why investors are bidding down the ASX All Ords stock today.

ASX All Ords stock hammered amid AGM

The ASX All Ords share is taking a beating following the company's annual general meeting (AGM).

While the results in review for FY 2024 were broadly solid, investors look to be favouring their sell buttons amid some ongoing medium-term headwinds.

Likely giving investors the jitters, Humm chairman Andrew Abercrombie noted that:

Consumers and SME businesses in Australia and New Zealand continue to be affected by inflation and cost of living pressures, with geo-political pressures hanging over the global economy.

Despite these headwinds, he said the ASX All Ords stock continues to grow, "And our credit losses remain stable, with only small pockets of heightened credit concerns in the Victorian SME market."

Also raising medium-term concerns, Abercrombie said, "Over the last four months we have observed slowing growth in the commercial broker market as customers hold back on investment in anticipation of RBA rate cuts."

And passive income investors may be joining the exodus today after Abercrombie added:

Dividends are likely to be at the lower end of our policy in the short to medium term, as we deliver on strategic goals, with an equally important focus on strengthening our technology foundations with new investment for future growth.

On a positive note, he said, "The FY24 result, supported by a balance sheet with unrestricted cash position of $125.1 million as of 30 June 2024 augers well for the future."

Abercrombie noted that his own shareholding has increased to 26.65% in the last 12 months.

Humm CEO Stuart Grimshaw then took over the podium and also didn't hold back any punches.

"We need to execute and deliver and while we remain optimistic about the future, we are also realistic about the challenges we have to overcome," he said.

Also likely concerning shareholders is compression in the company's net interest margin (NIM).

"As the market has slowed, and volumes have reduced, we have seen competition that has negatively affected NIM in recent months," Grimshaw said.

And investors looking for guidance from the ASX All Ords stock were left wanting.

"We have been asked many times about providing guidance. We have determined not to do so in time of great change for the company, and in an uncertain economic environment," Grimshaw said.