Fed Rate Cuts Make This Beaten-Down Cathie Wood Stock a Buy Now [Yahoo! Finance]
SoFi Technologies, Inc. (SOFI)
Company Research
Source: Yahoo! Finance
Wood's Ark Innovation ETF ARKK has gained more than 20% over the past year as it primarily focuses on stocks engaged in disruptive innovation. One such stock is SoFi Technologies, Inc. SOFI, which began as a student-loan provider and has now progressed into a versatile fintech company. However, despite raising its full-year revenue outlook in the second quarter and witnessing an expansion in its deposit base, SOFI stock has underperformed the Technology Services industry year to date (-20.4% vs +25.1%). Image Source: Zacks Investment Research This is because elevated interest rates have choked SOFI's lending business, which is responsible for generating the bulk of its revenues. But the recent jumbo interest rate cuts, with more expected to come, have worked wonders for this beaten-down fintech stock, making it an enticing buy at the moment. Let's have a closer look. Why a Rate Cut Will Boost SOFI Stock The Federal Reserve, in its recent policy meeting, trimmed interest rate
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SOFI
News
- Are Street Analysts Bullish On SoFi Technologies Inc. (SOFI) Right Now? [Yahoo! Finance]Yahoo! Finance
- Why SoFi Technologies, Inc. (SOFI) Dipped More Than Broader Market Today [Yahoo! Finance]Yahoo! Finance
- Galileo Launches Secured Credit with Dynamic Funding Empowering Banks and Fintechs to Simplify Credit-Building for ConsumersBusiness Wire
- SoFi Technologies, Inc. (SOFI): A Bull Case Theory [Yahoo! Finance]Yahoo! Finance
- SoFi Technologies, Inc. (SOFI) Rises Higher Than Market: Key Facts [Yahoo! Finance]Yahoo! Finance
SOFI
Earnings
- 7/30/24 - In-Line
SOFI
Sec Filings
- 9/27/24 - Form 3
- 9/24/24 - Form 4
- 9/24/24 - Form 4
- SOFI's page on the SEC website