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BUZZ-Fintech lender SoFi falls after Muddy Waters reveals short position

Reuters
Mar 18
BUZZ-Fintech lender SoFi falls after Muddy Waters reveals short position

** Fintech lender SoFi Technologies' SOFI.O shares fall 5.2% to $16.72

** Muddy Waters Research says it is short the stock; alleges that SOFI is a "financial engineering treadmill, not a healthily growing origination business"

** Short seller alleges that SOFI "appears to have a material misstatement of at least $312 million of unrecorded debt"

** SOFI did not immediately respond to a request for comment and Reuters could not independently verify the report

** 9 of 23 brokerages rate the stock "buy" or higher, 10 "hold" and 4 "sell" or lower; median PT $26 - data compiled by LSEG

** As of last close, SOFI stock down 32.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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