Is SoFi Stock a Buy?
Even as the market looks up in 2023, taking some great stocks along with it and providing some relief for investors, many stocks are still well below their previous highs. SoFi Technologies (NASDAQ: SOFI) stock is up 26% in January, but it's 73% off its high from exactly two years ago just after its initial public offering (IPO).
At this price, it looks like it could be an incredible deal. But that's only if it has what it takes to keep climbing; otherwise, it might be a value trap. Let's see if some analysis can provide the answer to whether or not investors should consider SoFi stock right now.
SoFi stands for social finance, and it represented a fresh look at finance, combining new technology with traditional services, when it first launched. It's quite the definition of a fintech company, offering updated financial services based on a digital infrastructure. Investors were impressed with the disruptive technology and huge market opportunity.
Source Fool.com
