SOFI - SoFi Keeps Delivering This Is A Very Tradable Dip
2024-04-29 10:45:54 ET
Summary
- SoFi Technologies reported strong Q1 earnings with a record adjusted net revenue of $580.7 million, up 26% YoY.
- The company saw significant growth in member additions and cross-selling, with quarter-end members up 44% and products up 38% YoY.
- SoFi continues to grow loans and deposits, with total deposits increasing by $3.0 billion in Q1 and personal loan originations up 11% YoY.
- We suggest buying this SoFi Technologies stock dip.
We currently hold a "house position" in SoFi Technologies, Inc. ( SOFI ) following a high conviction call to buy the stock when shares fell under $5.00. By a "house position," we mean that we backed out of the initial investment after a near double, and are letting the profit run as a long-term investment. We are pretty familiar with the business as we have traded SoFi numerous times at our service....
SoFi Keeps Delivering, This Is A Very Tradable Dip