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Barchart
Amit Singh

SoFi Stock Is Down 50%. Should You Buy Now, Cut Your Losses, or Stay Put?

SOFI LPB

SoFi Technologies (SOFI) stock has been under significant selling pressure for some time now. It has lost over 50% of its value from its 52-week high of $32.73. The latest decline followed the company’s Q1 earnings release, even though the financial technology company posted strong results.

In the first quarter, SoFi showed solid momentum. Members continued to grow, more products were adopted, and loan originations picked up, leading to an acceleration in its top-line growth rate. However, the market reacted negatively, sending shares down 15.4% on April 29.

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