It has been a difficult year for SoFi (NASDAQ: SOFI) shareholders, with shares of the one-stop-shop financial services company down a whopping 70% so far this year.
Like most tech and fintech stocks, the company has struggled in the face of rising interest rates, volatile market conditions, and a bleak economic outlook including the potential for a recession sometime in 2023 or 2024. SoFi now trades at about $4.45 per share and has a $4.2 billion market cap.
Can the company recover next year and get back up to $10 per share, a level it traded above all throughout 2021? Let's take a look.
Source Fool.com