SoFi Stock Is Bouncing Back as Analyst Cites ‘Overrated Fears’

Shares of SoFi Technologies were rising in Wednesday trading, on pace to snap a two-day losing streak as Mizuho Securities argued that the shares have fallen too far. Shares lost 10% that day and 3.8% on Tuesday as Wall Street voiced concerns around a higher-than-expected charge-off rate for loan losses, the financial forecasts, and continued worries over fair-value accounting practices. Mizuho Securities analysts led by Dan Dolev remain upbeat, arguing that investors are too concerned about credit quality and fair value marks.