SoFi Technologies (NASDAQ: SOFI) stock was a standout in 2023, gaining 116%. But that's all gone downhill this year and the share have fallen 25% in 2024.
What changed? If anything, SoFi posted a fabulous fourth-quarter report that seems to have set off the decline. Is this something to steer clear of? Or is this a big buying opportunity hidden in plain sight?
SoFi reported excellent Q4 results with continued growth and newfound profitability. Revenue increased 35% year over year, and SoFi reported its first generally accepted accounting principles (GAAP) profit, as promised. Net income came in at $48 million, or $0.02 per share, after a $0.05 loss last year.
Source Fool.com