SoFi Technologies Stock: Buy, Sell, or Hold?
SoFi Technologies (NASDAQ: SOFI) has been a big winner over the past year, with the stock gaining 85% since the start of 2023. The fintech has skillfully transformed its business in recent years, which is paying off as it recently posted its first profitable quarter ever.
The company is improving its bottom line as it continues adding customers at a rapid rate. Despite this, the stock is still 67% below its peak price from early 2021. Is now a good time to add SoFi to your portfolio?
Founded in 2011, SoFi's early business focused on helping people refinance their student loans. When the pandemic hit in 2020, student loans still accounted for much of SoFi's business. At the start of the pandemic, the federal government placed a payment moratorium on student loans, forcing the company to reevaluate its business.
Source Fool.com
