SoFi Stock Could Be About to Go Parabolic. Here Are 3 Things Smart Investors Should Know. [Yahoo! Finance]
SoFi Technologies, Inc. (SOFI)
Company Research
Source: Yahoo! Finance
One stock that has drastically underperformed both the S&P 500 and Nasdaq Composite so far this year is fintech platform SoFi Technologies (NASDAQ: SOFI) With shares down roughly 29% in 2024, SoFi investors appear unenthusiastic to say the least. Nevertheless, I think the stock could begin seeing some new life sooner rather than later. Let's dig into what's going on with SoFi's business and make some connections to how themes in the broader economy could lead to a newfound surge in the stock. 1. The lending business is at a crossroads SoFi offers a multitude of banking and investment products. The company provides loans to students and businesses, and even offers mortgages for potential homeowners. Moreover, SoFi can also be used for insurance products, making investments in the stock market, and fulfilling basic needs such as credit cards and checking accounts. Today, SoFi's largest source of revenue stems from its lending platform. The table below illustrates revenue
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SOFI
News
- SoFi Technologies, Inc. (SOFI) Registers a Bigger Fall Than the Market: Important Facts to Note [Yahoo! Finance]Yahoo! Finance
- SoFi, Best Egg get boosts from private credit [Yahoo! Finance]Yahoo! Finance
- SoFi Technologies to Adopt Galileo’s Cyberbank Core for New Commercial Payment Services Sponsor Banking ProgramBusiness Wire
- SoFi Technologies (SOFI) Soars 11.4%: Is Further Upside Left in the Stock? [Yahoo! Finance]Yahoo! Finance
- SoFi expands Nova Credit relationship to bolster loan underwriting Oct. 15, 2024 9:50 AM ET By: Liz Kiesche , SA News Editor [Seeking Alpha]Seeking Alpha
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