Today’s price action in the broader market is certainly something most investors don’t want to see. The three major indices are solid red, with most major growth stocks getting hit hard today. Investors in SoFi Technologies (NASDAQ:SOFI) and SOFI stock have not been spared.

In fact, SOFI stock hit a fresh new 52-week low today, trading as low as $7.56 per share this morning. Given the overall bearish sentiment that’s building, perhaps this isn’t so surprising.

After all, SoFi is a high-growth company that’s still relatively early-stage. A former Chamath Palihapitiya special purpose acquisition company (SPAC), SoFi aims to bring a new generation of digital banking customers to the forefront. Such a goal is certainly altruistic (and potentially very lucrative). However, investors right now are seeking certainty over the prospects of future gains.

Let’s dive into why this is the case right now.

Is SOFI Stock a Falling Knife, or a Bargain?

There’s a reason for the incessant pessimism we’re seeing in the market right now. Much of this has to do with the rising interest rate environment we find ourselves in. Inflation is surging, and central bankers are scrambling to reign in what is essentially a tax on the most vulnerable in our population. For equity investors in growth stocks, that means more pain could be ahead.

SoFi is certainly a company with tremendous growth potential. That’s why InvestorPlace guru Luke Lango is pounding the table on this stock at these levels. I’d have to agree that there’s a lot to like about the company’s future prospects.

However, being a growth investor right now feels like paddling upstream. Market conditions are tightening, which doesn’t bode well for portfolios in the near-term. And most investors appear eager to jump ship before everything falls apart. Again, that’s the kind of bearish sentiment in the market these days.

Perhaps SOFI sock is a bargain at these levels. Then again, maybe SoFi, like many of its peers, will only get cheaper from here. Right now, I’m staying patient with SoFi and other high-growth stocks with tremendous upside potential out of an abundance of concern. However, I can see why individual investors could make a strong case on either side for this company.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.