Can SoFi Stock Soar Even Higher in 2023?
Despite a dismal performance in 2022, shares of all-digital bank SoFi Technologies (NASDAQ: SOFI) climbed 50.3% in January. There are lots of reasons for the run-up, not least of which were a better-than-expected performance during the fourth quarter of 2022 and an improved outlook.
Will the big gains SoFi made in January fizzle out in February, or is the stock at the beginning of a much longer bull run? Let's look at what pushed the stock higher in the first place to see if it can continue climbing.
Shares of SoFi jumped more than 14% on Monday, January 30, in response to fourth-quarter results that blew past expectations. Total revenue soared 60% year over year to $457 million, which exceeded expectations by $30 million.
Source Fool.com
