SOFI - Could SoFi Be a Millionaire-Maker Stock?
2023-12-31 06:11:00 ET
Financial industry disrupter SoFi (NASDAQ: SOFI) has been a rare bright spot among the hundreds of companies that went public via reverse mergers with special purpose acquisition companies during the 2021 SPAC boom. Not only is the fintech a financially stable business and well on the way to profitability, but it has maintained terrific growth momentum, even during the 2022 economic slowdown and the 2023 banking headwinds.
Although its growth has been fantastic, there's a solid argument to be made that SoFi is just getting started. Here's a quick recap of SoFi's recent numbers, where it stands relative to other banks, and why it could still have plenty of room to grow in the years to come.
SoFi's growth trajectory has been stunning, and that's especially true given that 2023 has featured a tough environment for smaller banks. When a few high-profile regional banks failed during the spring, many depositors started pulling money out of smaller institutions and putting it in big banks.
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Could SoFi Be a Millionaire-Maker Stock?