2023-05-04 16:51:04 ET
Shares of several consumer finance stocks were falling this week amid negative sentiment in the banking sector, worries over an expected recession, and other, more-company-specific news.
Shares of credit card company Capital One (NYSE: COF) were down by roughly 12% for the week as of market close Thursday, according to data from S&P Global Market Intelligence . Meanwhile, shares of the artificial intelligence-assisted lender Upstart (NASDAQ: UPST) traded roughly 10.4% lower, while shares of the one-stop-shop financial services company and digital bank SoFi (NASDAQ: SOFI) were down nearly 22%.
SoFi delivered its first-quarter results earlier this week, and on its face, the report looked pretty good. SoFi beat estimates on the top and bottom lines, and slightly raised its full-year outlook. But that didn't assuage investors' fears about the loans sitting on its balance sheet.
For further details see:
Why Shares of Capital One, Upstart, and SoFi Are Falling This Week