SoFi Technologies Inc. (SOFI) stock experienced a significant 5.01% plummet intraday on Thursday. This downward movement comes amidst concerns raised by BTIG analyst Vincent Caintic regarding the company's ability to balance innovation with scalability.
In a report published on February 3, Caintic maintained a neutral stance on SOFI stock, giving it a Hold rating. The analyst highlighted the need for SoFi to strike a balance between its innovative offerings and the ability to scale its operations effectively.
While acknowledging SoFi's innovative products and services, Caintic expressed concerns about the potential challenges the company may face in scaling its operations to meet the growing demand. As a result, investors appear to be exercising caution, leading to the intraday sell-off in SOFI shares.
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