Fintech stocks experienced a spectacular run in 2020 as the COVID-19 pandemic accelerated demand for their product and services. However, multiple macro-economic factors have now dragged share prices considerably lower in the last six months.
Investors are worried about the steep valuation surrounding growth stocks, rising inflation rates, the possibility of interest rate hikes, supply chain disruptions, and the ongoing conflict between Russia and Ukraine. As a result, shares of SoFi (SOFI) and Lending Tree (TREE) are down 61% and 77% from all-time highs.
