SoFi Technologies' (SOFI) Financial Services and Tech Platform segments remain in great shape.
No SoFi (NASDAQ: SOFI ) insider has been more bullish than CEO Anthony Noto. On Friday, Noto purchased 30,715 shares at an average price of $6.48 per share.
SoFi's bear arguments center on the competitive nature of the industry, as well as its exposure to personal loans. SoFi's revenue continues to rise as it adds customers, while the company has swung to profitability.
In my last article on SoFi Technologies (NASDAQ: SOFI ), I discussed how SOFI stock is misunderstood by the market. Nearly a month later, this unfortunately remains the case.
There is at least one legitimate reason SoFi stock is underperforming this year.
SoFi (NASDAQ: SOFI ) just lost a major supporter. Yesterday, after the close, the Qatar Investment Authority (QIA) filed a Form 144 disclosing its intent to sell 19.84 million shares of SOFI stock.
SoFi stock is down 30% this year, but there's some good news.
2024 hasn't been great for SoFi Technologies Inc. (NASDAQ:SOFI) so far, with its stock down over 30% year-to-date and plummeting more than 70% from its all-time high. This downturn has been exacerbated by a substantial short interest, accounting for over 18% of its float.
SoFi Technologies is a fast-growing online bank with 8 million customers. It is growing quickly and just generated its first profit, although with a big help from a one-time expense benefit.
SoFi Technologies (SOFI) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
In the most recent trading session, SoFi Technologies, Inc. (SOFI) closed at $7.03, indicating a +0.57% shift from the previous trading day.
SoFi stock is down 30% this year already.