SoFi Technologies (NASDAQ: SOFI) hasn't been a winning investment since it entered the public markets in June 2021. Even though shares have climbed 72% higher in 2023 (as of Oct. 9), they are trading 65% below their opening price more than two years ago. 

Investors looking to allocate capital to this banking disruptor at a discount should gain a better understanding of the business. Here are three things you need to know if you buy this stock today. 

It's important to understand how SoFi has performed in light of the higher interest rate environment. To be clear, growth is still a key part of the story with this digital banking firm. In the most recent quarter, revenue increased 37% year over year to total $498 million, with the member count rising by an impressive rate of 44%. These gains are not as sizable as in prior years, but given the uncertain macro backdrop, investors have a lot to be excited about when looking at SoFi's financial numbers. 

Continue reading

Source Fool.com