SoFi Technologies Stock Slumps As Analyst Downgrades, Eyes Better Entry Point
Portfolio Pulse from Priya Nigam
SoFi Technologies Inc's stock slumped in early trading on Thursday after Oppenheimer analyst Dominick Gabriele downgraded the rating from Outperform to Perform. Gabriele believes the stock is trading at the top end of their high range and that investor sentiment could shift, creating a better entry point.
June 15, 2023 | 2:24 pm
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SoFi Technologies stock slumped after Oppenheimer analyst downgraded the rating, citing the stock is trading at the top end of their high range and potential for a better entry point.
The downgrade from Outperform to Perform by Oppenheimer analyst Dominick Gabriele indicates that the stock is currently overvalued and may face a short-term decline. This could lead to a negative short-term impact on the stock price as investors may wait for a better entry point.
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