SoFi Technologies (NASDAQ: SOFI) hasn't had a great year thus far. Its shares are currently down 23% in 2024 (as of April 8). That's not encouraging, particularly when the Nasdaq Composite Index is up 8%.

But this fintech stock has climbed 66% since the start of 2023. And some investors might be warming up to the idea of owning a growth-focused digital bank in their portfolios with the hopes of achieving market-beating returns over the long term.

Before you consider buying SoFi stock, you should understand what might be the company's biggest risk right now.

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Source Fool.com