SoFi Stock Selloff Shows Investors Are Starting to Question the Fintech Narrative

SoFi Technologies just got a harsh reality check from Wall Street. The stock sank more than 15% on April 29, even though the company turned in a strong first-quarter report with record adjusted net revenue of $1.1 billion, up 41% from a year ago, and net income of $167 million, more than double last year. 

The selloff came down to one particular point. SoFi’s management stuck with its full-year 2026 guidance instead of raising it, and investors were clearly expecting more. That choice flipped the switch from excitement to doubt and sparked the sharp move lower.