Why SoFi Stock Fell 22% Last Month
Last month, shares of SoFi Technologies (NASDAQ: SOFI), a financial technology (fintech) services company, tumbled 22.1%, according to data provided by S&P Global Market Intelligence , as some investors reevaluated their exposure to some areas of the market.
While no company-specific news drove SoFi lower in February, a few factors likely contributed to the stock's decline, including investor unease about the company's high valuation and the Federal Reserve's pause on interest rate cuts. It's also likely that investors fled SoFi stock as part of a broader shift toward safer investments.
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Source Fool.com
