It's been a rough year in the stock market, especially for fintech investors. High inflation and rising interest rates put investors on edge, ramping up market volatility. The S&P 500 is down 18.2% this year, while the tech-heavy Nasdaq Composite index is in a bear market, down over 26%.
One company feeling the pain is SoFi Technologies (NASDAQ: SOFI), the fintech that was a hot stock when it first went public in 2020. The stock enjoyed early success, trading up around $28 per share early in 2021. However, it's all been downhill since, with the stock dropping about 76% from its peak.
That drop has some investors wondering if now is a good time to buy SoFi stock. Let's dive into SoFi's business and see what the next few years have in store for this fintech.
Source Fool.com