SoFi stock shows bottoming signs after suffering a $17 billion wipeout

SoFi’s valuation has fallen to $22.7 billion from nearly $40 billion in November, and the stock is down 32% year to date. The decline contrasts sharply with the Nasdaq 100 and S&P 500, which have both risen by double digits, indicating clear relative underperformance and weakened sentiment around the name.

Analysis

SoFi’s valuation has fallen to $22.7 billion from nearly $40 billion in November, and the stock is down 32% year to date. The decline contrasts sharply with the Nasdaq 100 and S&P 500, which have both risen by double digits, indicating clear relative underperformance and weakened sentiment around the name.