Should You Buy SoFi Technologies While It's Trading Below $10?

The S&P 500 index keeps hitting new record highs in 2024, driven higher this month on enthusiasm over the Federal Reserve's recent reduction of the fed funds rate. Plenty of stocks saw significant gains on the news, but SoFi Technologies (NASDAQ: SOFI) is one stock that has yet to benefit.SoFi has done a solid job diversifying its business over the past several years. Still, its stock price remains down 51% from the start of 2022, just before the Federal Reserve began raising interest rates. The company has added new deposits at a staggering pace, but concerns linger about its credit portfolio.With interest rates coming down, investors may want to purchase SoFi stock while it is trading below $10 a share. But they should consider the following first.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool