28.12.2024 11:25:00

Should You Buy SoFi Technologies Stock While It's Below $20?

SoFi Technologies (NASDAQ: SOFI) hasn't impressed too many investors since its public debut. The fintech company went public by merging with a special purpose acquisition company (SPAC) on June 1, 2021, and its stock opened at $21.97.But today, SoFi's stock trades at about $16. Like many other SPAC-backed companies, SoFi disappointed its investors by missing its ambitious pre-merger forecasts. Rising interest rates exacerbated that pressure by squeezing its valuations. That was a disappointing three-year return, but some Wall Street analysts are still bullish on the stock.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool

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SoFi Technologies 15,36 1,48% SoFi Technologies