IPOE - SoFi Gets Intriguing When You Look at It Like a Bank Stock
It has long been known that the digital online personal finance company SoFi has wanted to obtain a formal bank charter. The company, which is going public through Chamath Palihapitiya's blank check company Social Capital Hedosophia Holdings Corp. V (NYSE: IPOE) , received conditional approval for a national bank charter toward the end of last year. Most recently, SoFi said it plans to purchase the tiny Golden Pacific Bancorp based in Sacramento, California, to accelerate these efforts.
Although you can't value SoFi exactly like a traditional bank, if you start to look at it more through the lens of a bank investor, you can start to see some of the value it brings to the table.
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SoFi Gets Intriguing When You Look at It Like a Bank Stock