Is SoFi Stock a Buy Now?
The U.S. banking industry is truly vast. According to the Federal Reserve Board, the total asset base of the top 10 banks in the U.S. is in excess of $10 trillion. These financial institutions are quite literally essential to the smooth functioning of our economy. However, the incumbents' strong positions don't mean that newcomers can't make some noise.
This is exactly what SoFi Technologies (NASDAQ: SOFI) is doing. In the years since its founding in 2011 as a student loan refinancer, it has rapidly evolved into a full-service digital banking powerhouse. Investors are taking notice: Its shares have soared by 235% just in the past year.
Is this booming fintech stock, which is trading near its record high, a smart buying opportunity right now?
Source Fool.com


