SoFi Stock Dips Despite Mastercard Stablecoin Partnership and Strong Earnings
SoFi Technologies (SOFI) shares fell 2.6% to $18.29 in late Tuesday trading, defying positive developments such as CEO Anthony Noto's stock purchase and a new partnership with Mastercard for its SoFiUSD stablecoin. The decline underscores investor skepticism as the fintech juggles record earnings with persistent dilution and regulatory risks.
Fourth-quarter results showcased robust performance: $1.0 billion in adjusted net revenue, $318 million adjusted EBITDA, and 78% growth in financial-services revenue to $456.7 million. Member growth remained strong at 13.7 million, yet the stock trades at 50 times earnings—a premium to peers like PayPal—reflecting valuation concerns.
The Mastercard collaboration failed to buoy sentiment, mirroring broader pressure on fintech stocks. Regulatory scrutiny and platform risks loom as potential headwinds for SoFi's digital banking and lending expansion.