By Kuldip K. Ambastha
On Wednesday, August 3, 2022, the stock price of SoFi Technologies, Inc. (SOFI), an American online personal finance company, rose by a sharp +28.4% per share for the trading day. (See past coverage if needed: “What Caught Our Attention in the Investment World? – Week of October 11-15, 2021; By Kuldip K. Ambastha.”) Net revenues were impressive for the latest quarter, and SoFi obtained over 450,000 new members on its fintech platform. Member deposits stand at $2.7 billion, and these dollars serve as a stable source of funding for SoFi’s loan business unit. Because of these developments, SoFi leadership sees a much improved full-year earnings outlook in the near future.
Keywords – SoFi Technologies, Inc., SoFi Technologies, SoFi, SOFI, World Wide Web, WWW, Internet, online, personal, finance, technology, tech, fintech, loans, revenues, earnings, members, deposits.
Disclosure – The principals of Ambastha Financial LLC have a long equity and a short option position in SOFI. The clients of Ambastha Financial LLC have no positions in SOFI.
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