The stock is trading at $4.44 per share on Monday, May 15. The personal finance company and online bank value have gone down 20% in the last four days.
Before the trading started, the price objective was decreased by 50% to $2.50 per share by Wedbush analysts, who also downgraded the company from Neutral to Underperform.
According to the analysts, SoFi’s fee income from loan origination and sales may be approaching a turning point, and because “capital levels may be overstated using fair value accounting,” they believe the company may seek to raise capital this year to support growth.
