Fintech Stocks Slide as Rising Yields Pressure SoFi and Affirm

Key Facts

1SoFi shares fell 6% to $14 despite StoneX initiating coverage with a Buy rating.

2Other fintech firms saw sharp declines, with Affirm shares dropping 9%.

SoFi shares fell 6% to $14 despite StoneX initiating coverage with a Buy rating. According to 247wallst.com, other fintech firms saw sharp declines, with Affirm shares dropping 9% as rising long-term bond yields pressured high-growth valuations and increased borrowing costs.

SOFI closed at $15.24 on October 13, 2026, while AFRM closed at $77.89 on the same date. StoneX argued that SoFi's valuation had become attractive against stronger operating performance, yet macro yield pressures neutralized this sentiment, also affecting SNEX which closed at $60.24 on October 13, 2026.