Here's Why SoFi Stock Plunged More Than 15% After Its Latest Earnings

By Matt Frankel – May 1, 2024 at 5:22AM

NASDAQ: SOFI

SoFi Technologies

Market Cap

$8B

Today's Change

(-2.61%) -$0.20

Current Price

$7.28

Price as of May 15, 2024, 3:24 p.m. ET

The banking disruptor is still growing rapidly, but investors weren't thrilled with the numbers.

SoFi (SOFI -2.61%) reported tremendous revenue, membership, and deposit growth in the first quarter. However, there were a few things investors don't seem very happy with, as I discuss in this short video.

*Stock prices used were the afternoon prices of April 30, 2024. The video was published on April 30, 2024.

Matt Frankel has positions in SoFi Technologies. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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