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SoFi Technologies Inc (NASDAQ:SOFI) shares stabilized on Wednesday morning. The move follows a sharp rebuttal against Muddy Waters Research.
The short-seller released a scathing report on Tuesday afternoon.
SoFi management characterized the claims as a “fundamental lack of understanding” of their business. The company also signaled intent to “explore potential legal action” against the firm.
Muddy Waters Alleges Accounting Red Flags
The conflict began Tuesday when Muddy Waters, led by Carson Block, labeled SoFi a “financial engineering treadmill.”
The report alleged that SoFi’s 2025 adjusted EBITDA was inflated by 90%. Muddy Waters suggested the true figure was $103 million rather …
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