The volatility seen over the past few months has sent shares of many newly listed and highly valued companies into a tailspin. It’s not uncommon to see stocks showing 3-month losses in the 60% range. The Fintech space has been hit particularly hard. Look no further than the performance of SoFi Technologies (SOFI), which tumbled ~45% over the past 3 months.
Surveying this landscape, Oppenheimer’s Dominick Gabriele expects the volatility to continue, although the analyst believes SoFi has a “better business combination” than other newly listed Fintechs/Specfin.
What does Gabriele especially like about SOFI, then? “We think SOFI is one of the most well-rounding developing business models that likely has longevity,” he explained. “It’s the reason we decided to launch on this stock vs. other new Fintechs up front.”
With roots in student financing, the company’s business mix…
