Since the Federal Reserve's interest rate hikes, online banks offering high-yield accounts gained popularity over traditional banks, notably SoFi Technologies Inc.
SoFi Techonologies Inc., a major player in online banking, faces challenges with a plummeting stock price, high short interest, and poor fundamentals like a negative price-to-earnings ratio.
Despite SoFi Technologies' $7.93 billion market cap and industry name, it struggles with a significant short interest, poor financial performance, and unimpressive analyst earnings projections.
SoFi Technologies' stock is down over 70% from its all-time high and is heavily shorted with 18.60% of shares sold short, indicating investor concerns and negative sentiment.
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