SoFi Technologies (NASDAQ: SOFI) stock hasn’t fared so well this year.
This digital banking disruptor has been reporting solid performance, but its stock is down 32% year to date
Is this an opportunity or a value trap? Let’s see where SoFi stock might be in five years to make that determination. Banking in the palm of your hand SoFi has developed a consumer banking app that it calls a “one-stop shop” for a user’s financial needs.
It’s introducing a plethora of products and services that range from the traditional to the cutting-edge. It was one of five brokerages to offer retail investor exposure to Space Exploration Technologies’ (SpaceX’s) initial public offering (IPO), and it was the first to offer access to it through a fund when it was still a private company. These kinds of offers help it stand out and trailblaze in a crowded industry with a lot of legacy players.