Why SoFi Technologies Stock Dropped 10% on Earnings Monday

At 14 times predicted 2026 earnings, the stock looks cheap.Shares of SoFi Technologies (SOFI -9.28%) nose-dived 9.9% through 12:15 p.m. Monday even after the company reported an earnings beat this morning.Heading into the first quarter of 2024, analysts forecast SoFi would earn just $0.01 per share on $556 million in quarterly sales. In fact, profits were twice what were expected at $0.02 per share, and sales came in strong at $645 million. But the stock is still down.The first-quarter earnings reportSales ...