SOFI Stock: 11 Reasons Investors Bet on a SoFi Banking Charter

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Sofi Technologies (NASDAQ:SOFI) the stock is in motion on Tuesday as investors discuss a possible bank charter for the company.

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Let’s see what a bank charter would mean for the company and why investors are hoping for one.

  • Obtaining a banking charter by SoFi would open it to more customers with US government recognition.
  • This could lead to an increase in the company’s footprint in the financial services sector.
  • It also opens it up to even more loans with loans for individuals and businesses.
  • All of this has the potential to transform SoFi from its reputation for refinancing student loans into something bigger.
  • If this happens, investors will likely see SOFI shares higher rally in coming years.
  • However, there are still hesitations about the future of SoFi.
  • This is to be expected with the turmoil traders have seen in equities over the past year.
  • There have been many ups and downs for SOFI shares and that might scare off some investors.
  • In fact, anyone who bought SOFI stock a year ago is currently facing a 43.6% decline in value.
  • Of course, that could mean now is the perfect time to buy SOFI stock with shares at a year-to-date low.
  • It could turn into big profits if the stock takes off on possible bank charter news.

SOFI shares are down 3.6% on Tuesday morning.

Investors on the lookout for the latest stock market news are in the right place!

We have all the latest stock information traders need to know for Tuesday! Some examples include what hits the shares of Lucid Engines (NASDAQ:LCID) stocks today, what investors in Roblox (NYSE:RBLX) say stocks as stocks rise, as well as Share capital Suvretta Holdings III (NASDAQ:DNAC) preparing for a SPAC merge. You can get all these details from the following links!

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As of the date of publication, William White had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.


Article printed on InvestorPlace Media, https://investorplace.com/2022/01/sofi-stock-11-reasons-why-investors-are-banking-on-a-sofi-bank-charter/.

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