Why SoFi Technologies Stock Rocketed Higher Today
Shares of SoFi Technologies (NASDAQ: SOFI) were rising 12.1% on Monday as of 3 p.m. ET.
The fintech began as a student loan provider and has pivoted to become more of a full-service banking and brokerage super-app. It had been beaten down amid the past year's interest rate shock, along with severe worries over the value of its loans following the recent regional banking crisis.
However, one analyst believes those concerns are overblown, and that the company's investments in new growth areas will pay off with profitability by the end of this year.
Source Fool.com
