Down 38% From Its High, Is This Fintech a Buy?
While the S&P 500 has seen some turbulence in the past month, growth stocks have been getting hit for months now. Yet despite the drop in share prices, many of these companies have posted strong earnings for 2021, and nothing has fundamentally changed for them.
One company in this position is Live Oak Bancshares (NASDAQ: LOB). Despite posting the best year in its history, the bank has seen its stock decline 38% since early November. Investors shouldn't fret. Here's why Live Oak could be a good buy at today's price.
Live Oak is a regional bank whose special sauce is serving small-business customers. This focus has made it the biggest lender through the Small Business Administration (SBA) 7(a) program. In 2021, Live Oak Bank made 223 loans totaling $307 million. Newtek Small Business Finance, its next closest competitor, made $219 million worth of these loans.
Source Fool.com
