SoFi Technologies, Inc. (Nasdaq: SOFI), a publicly listed American fintech company, has been targeted by short seller Muddy Waters Research, who claimed that SoFi Technologies was a "financial engineering treadmill" not a "healthily growing origination business". The short-seller also accused SoFi of having a misstatement of at least $312 million of unrecorded debt and of improper accounting practices. SoFi called the report "factually inaccurate and misleading" and may explore legal action against Muddy Water. Despite these claims, Mizuho maintained an Outperform rating on SoFi and a stock price target of $38.