Why Is SOFI Stock Down 4.6% on Tuesday?

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Why Is SOFI Stock Down 4.6% on Tuesday?

InvestorPlace2022-12-07

Shares of SoFi Technologies reached a new 52-week low of $4.26 today.Investors are expecting a better 2023 for the company due to the resumption of student loan payments.Shares of SOFI stock are down ...

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Eugene Lim
·2022-12-07
Ok
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Jamjam77
·2022-12-07
Just talking rubbish
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Bodoh
·2022-12-07
Answer your own question please: why is the stock down TODAY?
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Christoooo
·2022-12-07
Jjjj
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N30
·2022-12-07
BS. This is nothing new to SOFI investors. It's down because the entire market is down. Macro issues.
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- katang_sunse:
  totally agree
  2022-12-07
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- Christoooo:
  C
  2022-12-07
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R Lim
·2022-12-07
Nice
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- R Lim:
  ok
  2022-12-07
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Shares also reached a new 52-week low of $4.26. In addition, the last investor relations update the company posted was from Nov. 9. So, why exactly is SOFI stock down today?It appears SoFi is moving in correlation with the broad market, as both the S&P 500 and Nasdaq indices are down by more than 1%. Today’s decline has brought SoFi’s year-to-date loss to more than 70%.Better times are ahead for the all-in-one financial platform in 2023. For starters, the federal student loan moratorium is set to expire no later than June 30, 2023. First enacted during the start of the coronavirus pandemic, the policy has had drastic effects on SoFi’s student loan volume. In its third-quarter earnings, the company explained:“Third quarter student loan volume of over $457 million was down more than 50% from the average pre-pandemic volume as the moratorium on student loan payments continues to weigh on the business.”With payments slated to resume next year, SoFi should see a well-needed boost in student loan activity.Why Is SOFI Stock Down Today?On the other hand, InvestorPlace’s Louis Navellier believes SoFi should be avoided, despite the decline in price this year. He notes current revenue and earnings forecasts already factor in the end of the moratorium, which “may not translate into big profitability improvements.”On top of that, sell-side analysts forecast the company will report negative earnings per share (EPS) for 2023 and 2024. By 2025, one analyst forecasts positive EPS of 35 cents. The current status of unprofitability does not factor in well with the high interest-rate macroeconomic environment.Meanwhile, analysts have mixed feelings about SoFi. Among 12 firms, the highest price target is $10, the lowest is $5 and the average is $7.50. Additionally, the last four price target updates have all been lower revisions.SoFi’s Crypto Business in FluxFollowing the collapse of cryptocurrency exchange FTX, lawmakers from the Senate Banking Committee issued letters to SoFi requesting a review of its crypto trading activity. Morgan Stanley analyst Jeffrey Adelson explained since SoFi is a bank holding company, it shouldn’t be allowed to engage in crypto. The analyst also added he sees “higher odds” of SoFi making a crypto exit. Still, crypto revenue is just a sliver of SoFi’s overall revenue, accounting for less than 1%.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9920027462,"gmtCreate":1670401208256,"gmtModify":1676538360668,"author":{"id":"4102301783577960","authorId":"4102301783577960","name":"Eugene Lim","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":2,"crmLevelSwitch":1},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9920027462","repostId":2289172057,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9920032903,"gmtCreate":1670390605602,"gmtModify":1676538358855,"author":{"id":"4123969118936632","authorId":"4123969118936632","name":"Jamjam77","avatar":"https://community-static.tradeup.com/news/d4d2f96020de22713e4f071efa05a6bd","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":8,"crmLevelSwitch":1},"htmlText":"Just talking rubbish&nbsp;","listText":"Just talking rubbish&nbsp;","text":"Just talking rubbish","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9920032903","repostId":2289172057,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9967758755,"gmtCreate":1670381312178,"gmtModify":1676538357051,"author":{"id":"3559859558754319","authorId":"3559859558754319","name":"Bodoh","avatar":"https://static.tigerbbs.com/349218ea2852130ca86ce660b4aa2d59","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Answer your own question please: why is the stock down TODAY?","listText":"Answer your own question please: why is the stock down TODAY?","text":"Answer your own question please: why is the stock down TODAY?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9967758755","repostId":2289172057,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9967759356,"gmtCreate":1670380807876,"gmtModify":1676538356863,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Jjjj","listText":"Jjjj","text":"Jjjj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9967759356","repostId":2289172057,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9967725791,"gmtCreate":1670380439413,"gmtModify":1676538356763,"author":{"id":"3570622365838239","authorId":"3570622365838239","name":"N30","avatar":"https://community-static.tradeup.com/news/33bf6a97d91ccaf61eb8245d0322ab01","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1},"htmlText":"BS. This is nothing new to SOFI investors. It's down because the entire market is down. Macro issues.","listText":"BS. This is nothing new to SOFI investors. It's down because the entire market is down. Macro issues.","text":"BS. This is nothing new to SOFI investors. It's down because the entire market is down. Macro issues.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9967725791","repostId":2289172057,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":105101023,"gmtCreate":1670382382177,"gmtModify":1670382395609,"authorId":4105508183426640,"author":{"id":4105508183426640,"authorId":4105508183426640,"name":"katang_sunse","avatar":"https://community-static.tradeup.com/news/f730004f590af4db103e4a70cbd6d06b","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9967725791,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">totally agree</span>","text":"<span class=\"s1\">totally agree</span>","html":"<span class=\"s1\">totally agree</span>"},{"id":105100555,"gmtCreate":1670380813076,"gmtModify":1670380827299,"authorId":3586558475553764,"author":{"id":3586558475553764,"authorId":3586558475553764,"name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9967725791,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">C</span>","text":"<span class=\"s1\">C</span>","html":"<span class=\"s1\">C</span>"}],"langContent":"EN"},{"id":9967764747,"gmtCreate":1670379520990,"gmtModify":1676538356497,"author":{"id":"3581634125853828","authorId":"3581634125853828","name":"R Lim","avatar":"https://static.tigerbbs.com/d3081d4d67e2198188bc8039305c484f","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9967764747","repostId":2289172057,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":105100070,"gmtCreate":1670379525101,"gmtModify":1670379538303,"authorId":3581634125853828,"author":{"id":3581634125853828,"authorId":3581634125853828,"name":"R Lim","avatar":"https://static.tigerbbs.com/d3081d4d67e2198188bc8039305c484f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9967764747,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":62,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}