What Is Going On With SoFi Technologies Stock?

The stock is trading down 20% this year while the market is soaring. 2024 has been another painful year for SoFi Technologies (SOFI -7.12%) investors. The financial services app is down around 20% and now off 71% from all-time highs set in 2021. All the while the S&P 500 index and Nasdaq market indices are soaring. Banks and lenders have struggled in recent years as the Federal Reserve raised interest rates at one of its fastest paces in history, presenting a headwind to these businesses. SoFi just reported ...