Ok ok, not really to the moon, but it has performed remarkably well the past few months, tripling in price from around $10 to close to $30.
What is it? Let’s dive in.
SOFI is the ticket symbol for SoFi Technologies, Inc. The stock market in general is a bit more exciting than crypto at the moment. BTC is doing its thing, but altcoins are still a mess. They’re so diluted that it’s tough to see any real plays in that space.
Anyway, so what is SoFi? It’s a relatively new player in the finance space, following a path similar to Robinhood — pushing into mobile and appealing to younger people who’d rather manage money themselves than hire a financial planner. It started off focusing on student loans, but it’s expanded since then.
Unlike Robinhood, which mostly focuses on investing, SoFi is trying to become a full-fledged bank. They offer bank accounts, insurance, loans, and investing too. They’re also copying Apple a bit, seeking to design an entire ecosystem they control — one that locks users in. This whole sector, called FinTech, is growing fast, and SoFi may be leading the way.
It’s an interesting model and an interesting company. They were very undervalued when they were $10, and I took a position then. At this point it’s hard to say “buy”. Many analysts advise holding or taking profit, suggesting they may be overvalued now. Still, this sector has plenty of room to grow, so they could keep climbing. I’m betting they have a way to go yet, so I am DCAing in a little and holding what I have. If they dip, I may increase my position much more.
Worth a look, anyway. I’m not telling anyone to buy or not, just pointing out that they’re a company worth watching.
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David is an American teacher and translator lost in Japan, trying to capture the beauty of this country one photo at a time and searching for the perfect haiku. He blogs here and at laspina.org. Write him on Bluesky. |