Opinion: SoFi joins the meme-stock party — does that mean the parents have come home? [MarketWatch]
SoFi Technologies, Inc. (SOFI)
Company Research
Source: MarketWatch
we are saying that the hottest new thing is a fintech lending platform that wants to be a bank and is run by a former Goldman Sachs GS, dealmaker. Social-media traders were buzzing over SoFi Technologies Inc. SOFI, on Wednesday on news that the online lender had won approval from the Office of the Comptroller of the Currency and the Federal Reserve to acquire Golden Pacific Bancorp Inc. and become a bank-holding company. The stock opened almost 20% higher on Wednesday morning before trading at roughly six times its average volume to close up 13.7%. According to data from HypeEquity, mentions of SoFi's ticker on Reddit were up more than 1,500% in a 24-hour period. Despite actual news being an impetus for the move, that huge trading volume and social-media attention make SoFi very meme-ish indeed. The approval gives SoFi the banking business that CEO Anthony Noto –a former senior banker at Goldman and CFO of Twitter– has been chasing since he took over at the beginning of 2018,
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SOFI
News
- SoFi Technologies: A Deeply Undervalued Fintech [Seeking Alpha]Seeking Alpha
- Got $1,000? 3 Growth Stocks to Buy and Hold Forever [Yahoo! Finance]Yahoo! Finance
- Prediction: SoFi Could Be One of the Best Bank Stocks Over the Next Five Years. Here's Why [Yahoo! Finance]Yahoo! Finance
- SoFi Technologies, Inc. (NASDAQ: SOFI) had its price target lowered by analysts at Jefferies Financial Group Inc. from $15.00 to $12.00. They now have a "buy" rating on the stock.MarketBeat
- 1 No-Brainer Growth Stock to Buy Now With $100 and Hold Through 2024 (and Beyond) [Yahoo! Finance]Yahoo! Finance
SOFI
Earnings
- 1/29/24 - Beat
SOFI
Sec Filings
- 3/26/24 - Form 8-K
- 3/26/24 - Form 8-K/A
- 3/26/24 - Form 8-K
- SOFI's page on the SEC website