SoFi Made 2 Genius Moves in 2022 to Avoid Silicon Valley Bank's Fate
With the recent demise of 40-year-old Silicon Valley Bank (SVB) and the recent desperation sale of 167-year-old Credit Suisse, some may be especially nervous about their own bank stocks. That may especially be true of investors in newer banks and fintechs, such as SoFi Technologies (NASDAQ: SOFI).
Yet investors going through SoFi's recent annual report should be encouraged. That's because SoFi did basically the opposite of what Silicon Valley and other troubled banks did last year, in two important ways.
While this high-growth neobank still has a lot to prove, SoFi management's recent decision-making is looking pretty smart today, and that's encouraging for investors going forward.
Source Fool.com
