Today, it is still exclusively online, but it has morphed into a Full Service financial company. In 2024, it would be difficult to find a financial business that SoFi is NOT in.
SoFi stock went public in late 2020. It peaked around $28 in early 2021. It has been trading in the $5-$10 range since early 2022.
They have a very aggressive acquisition and business development plan. Their Earnings Per Share have actually been negative over the last four quarters - not necessarily alarming for an aggressive company.
SoFi Debt-to-Equity is $3.4B-to-$6.8B, which is completely reasonable for an aggressive company.
My first impression...
All of their company and bank checks will clear. However, I would avoid SOFI stock.
Thanks— they have wormed their way into the FDIC/Fed Reserve gamut, and into everything. BTW some of our leaseholders sent checks from Everbank and Ally— and they did not clear- we don’t allow those anymore.
People have been pushed into this type of banking by the “club” bankers imho— they want to get ahead as best they can, and most have fairly good credit, paying their bills even in this ridiculous concept of Yellen/Biden/chi-com economy. Be well, and thanks.