Financial services company SoFi Technologies (SOFI) will release its second quarter (Q2) earnings on Tuesday, July 30. Despite performing well and delivering impressive financials over the past several quarters, SoFi stock has experienced a rough ride this year, and is down about 20% year-to-date.
Currently, SoFi has a market cap of $8.29 billion, and its stock has notably underperformed the S&P 500 Index ($SPX). SoFi stock trades approximately 68% below its three-year high of $24.65. This significant decline can be attributed to a prolonged high interest rate environment, concerns over loan originations, and macro uncertainty.
