SoFi is a California-based internet personal finance firm. SoFi stock has been extremely volatile since the company went public by a SPAC in May 2021. The price went up to $24.95 on June 2 but later crashed to $13.56 in mid-August. At the moment it’s trading around $15.61 on SimpleFX.
SoFi offers mobile-first financial products. The company is located in San Francisco and provides a variety of quite complex financial services including student loan refinancing, mortgages, personal loans, credit cards services, and investment advice via both their mobile app and online platforms.
The fintech startup’s goal is to be a “one-stop-shop” for every financial service a young customer could be looking for. To make things easier for the users they are developing SoFi Active Investing robo-advisor.
Recently a Seeking Alpha author wrote a bullish piece about SoFi. He pointed out that the company is sitting on $462 million of cash and equivalents, and is likely to see “free cash flow come in at just under $700 million generated on revenue of $4 billion in fiscal 2025”.
For SimpleFX traders, it’s a great volatile asset you can acquire or short depending on the trend. Trade SoFi with standard maximum leverage of 50x.