3 Things You Need to Know if You Buy SoFi Today
After a challenging last year, SoFi Technologies (NASDAQ: SOFI) has gone on an absolute tear in 2023. Elevated interest rates and the end of the student loan moratorium have boosted the stock, up 112% since the start of the year.
The fintech is appealing to a certain set of investors for several reasons. It's growing quickly, benefiting from its banking charter (which it acquired early last year), and it is soaking up customer deposits at a time when many other banks have a hard time holding on to them.
Despite the positive momentum, the stock still trades 65% below its all-time high. If you're considering buying SoFi today, here are three things to know first.
Source Fool.com
