Shares of SoFi Technologies Inc. (NASDAQ:SOFI) are trading marginally lower Monday morning. The stock is extending weakness from Friday’s session as fintech and high-beta growth names face pressure from broader market headwinds and persistent macroeconomic scrutiny around lending margins.
Here’s what investors need to know.
SoFi Technologies stock is trading at depressed levels. Where are SOFI shares going?
Geopolitical Escalation And Macro Rates Weigh On Equities
Monday morning’s market-wide decline is driven primarily by escalating conflict in the Middle East following U.S. strikes against Iranian targets in the Strait of Hormuz over the weekend and subsequent regional retaliation. The geopolitical flare-up sent crude oil higher and equity futures lower across the board.
