SoFi's CEO Anthony Noto Is Clearly Trying to Speak to the Market. What's He Saying?
Recently, SoFi Technologies' (NASDAQ: SOFI) CEO Anthony Noto purchased $5 million of the company's common shares. When the CEO of a company makes a big purchase like this, it's a good signal to the market that he or she thinks the stock is undervalued and likes the company's long-term prospects.
Like most consumer-facing fintech stocks, SoFi had a difficult 2022 and the stock is down more than 70% after a monstrous year in 2021.
In this particular case, however, I think Noto is really trying to speak to the market to assure it that numerous concerns that have recently come to light are overblown. Let's evaluate the concerns around SoFi and also take a look at what Noto is trying to tell the market here.
Source Fool.com
