Off 65% From Its All-Time Highs, Is SoFi Stock a Can't-Miss Fintech Buy Right Now?
SoFi Technologies (NASDAQ: SOFI) hit the public markets firing on all cylinders. The fintech start-up joined the stock market during the height of the pandemic bubble, going public through a special purpose acquisition company. It then went on an acquisition spree, buying fintech software and a consumer bank to increase the number of financial products it could offer consumers.
After hitting $25 a share in short order, SoFi has trended lower in recent years along with most other fintech stocks. Today, its shares are still off 65% from all-time highs. But if you look at the underlying business, it's growing like gangbusters and attracting tons of depositors, giving the company the wherewithal to make new loans. Does that make the fintech start-up a buy at these depressed prices? Let's investigate.
SoFi began by refinancing student loans, and it still operates a student loan business, but it has added a plethora of other financial services. These include personal loans, mortgages, investing services, credit cards, and personal-finance help all in a single mobile application.
Source Fool.com
