Instacart Is Going Public. Why That Means You Should Buy SoFi Stock
Buying a new growth stock usually requires at least a small leap of faith. But while some come with a massive amount of risk, others demonstrate enough positive signs to inspire confidence and warrant serious consideration.
I was hesitant about SoFi Technologies (NASDAQ: SOFI) when it debuted in 2020. Its initial public offering (IPO) took place at the height of the bull market, and the share price went through the roof despite the fact that the company had no profits, few products, and little that differentiated it from the masses of other digital banks that were launching.
But SoFi has done a lot over the past three years to distinguish itself in terms of both what it offers consumers and how it runs its business. It's bigger and better, but also leaner, and it's closer to profitability. Its stock price is 65% below the peak it reached in 2021. And it's moving into new territory that could break open incredible opportunities.
Source Fool.com
