Warning: 1 Major Red Flag for SoFi Stock
Despite the regional banking crisis that rattled markets and the economy earlier this year, SoFi Technologies (NASDAQ: SOFI) has been a notable winner. Its shares are up 68% this year (as of Sept. 28), even though they have come down significantly since the start of August.
Some investors might automatically view SoFi stock as a buy right now, not only because its shares are selling at a price-to-sales multiple below their historical average, but also due to a near-term catalyst.
Before doing that, though, there's one huge red flag that can't be ignored. Let's take a closer look.
Source Fool.com
