The Economic Times

SoFi stock slides again: Why SOFI shares are down 8% today after a 13% December drop

Shares of SoFi Technologies fell nearly 8% today, extending losses after a 13% decline in December. Todays decline is largely driven by investor reaction to SoFis planned equity raise. The fintech leader faces pressure following a $1.5 billion capital raise at $27.50 per share. Despite reaching 9.5 million members, dilution concerns and a high 45x P/E ratio are driving the sell-off.