SoFi (SOFI) has defied the odds of SPAC companies, with its stock soaring past $30, three times its IPO price. Analysts, once bearish, have been proven wrong as the stock is up 90% this year. SoFi has a unique business model combining traditional banking with fintech agility, generating significant revenue from non-lending ventures. With a growing member count and strong profit growth, SoFi’s future looks promising.

Despite its success, SoFi’s high valuations have prompted some investors to take profits. The stock trades above its target price with a price-book value of 4.79x and a forward P/E multiple of 93.7x. While optimistic about future earnings growth, concerns about market overheating and SoFi’s overvaluation have led some investors to rethink their positions. It may be time to heed bearish warnings about SoFi’s current valuation levels.

Read more at Yahoo Finance: Should You Sell SoFi Stock Now as the Bears Get Stronger?