SOFI - SoFi Stock Is Tanking: What Wall Street Is Getting Wrong
2024-06-12 08:25:00 ET
SoFi Technologies (NASDAQ: SOFI) stock has gone through some wild swings since the company went public in 2020. Investors have alternately been excited about it and concerned about where it's going, and after the stock more than doubled in 2023, it's down by 30% so far this year.
While there are valid reasons for the market's misgivings, in my view, this year's plunge has overshot the mark.
SoFi's original business was in student loans, but it has since expanded into a full financial services provider. It's popular with the students and young professionals that are its target market, and members have been increasing their engagement with its platform.
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SoFi Stock Is Tanking: What Wall Street Is Getting Wrong