3 Reasons to Buy SoFi Stock Right Now
This year is bringing good tidings for investors as the market continues to climb. On the one hand, that's not surprising, because a year when the market is down is almost always followed by a year of gains. On the other hand, inflation is still a problem, and many companies are feeling its pinch. That makes it counterintuitive for stocks to jump.
The tech sector got hammered last year, and it looks like investors think it got overdone. It's now lifting the market despite continued economic volatility. Fintech company SoFi Technologies (NASDAQ: SOFI) stock plunged 71% last year, but it's now more than doubled in 2023. Here's why it's a great stock to own for the future.
SoFi was created for university students to benefit from better lending programs, and it quickly snowballed into a full student loan refinancing company. But on a mission to make finances easier for members, it has branched out into a broad suite of financial services, including personal loans, mortgages, investing, and more. It bought Golden Pacific Bancorp last year to acquire a bank charter, giving it an opening to offer more sophisticated lending products. This strategy has been pivotal in helping it thrive under adverse circumstances.
Source Fool.com
