A notorious short-seller unloaded on SoFi. The stock shrugged it off

Muddy Waters made its name as a short-selling firm that exposed accounting trickery at publicly-traded Chinese firms. On March 17, the firm took aim at a new target: It accused SoFi, known for home and student loans, of a host of book-keeping shenanigans designed to enrich top executives at the expense of shareholders. These are the sort of accusations that, if true, could tank a company’s stock. But so far the market doesn’t appear to be buying Muddy Waters’ latest tale.

The short-seller set out its allegations on March 17, blasting out a report to journalists and social media that claimed SoFi had not actually sold a $312 million loan package but kept it on the company’s books with a sleight-of-hand financing arrangement. The Muddy Waters report also alleges that SoFi........

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