Is SoFi a Millionaire-Maker Stock?

On June 1, SoFi Technologies (NASDAQ: SOFI) merged with Chamath Palihapitiya's Social Capital Hedosophia Holdings Corp. V, completing a deal as a special-purpose acquisition company (SPAC) to bring SoFi to the public markets.

You may recognize SoFi as the name of the new Los Angeles Rams stadium, which is a curious development for a "start-up." However, SoFi is 10 years old, and with companies staying private for longer, along with big-name executives in former Twitter COO Anthony Noto as CEO and Palihapitya as sponsor, SoFi isn't just any new SPAC.

Trading at a $14.4 billion valuation, could this new-age type of financial platform become a millionaire-maker stock?

Continue reading

Source Fool.com