The Deal Changes Everything $SOFI via /r/wallstreetbets #stocks #wallstreetbets #investing

The Deal Changes Everything $SOFI

We sold a Portion of Our Shares in $DNUT to Buy More $SOFI – Their Bank Deal has an Increased Market Value and New Price Target – We are BUYING More $SOFI – Shares of $SOFI rallied as more than 16% in after-hours trading on Tuesday following news that the fintech cleared its final regulatory hurdle in becoming a bank.

SoFi Technologies, Inc., formerly Social Capital Hedosophia Holdings Corp. V, is a member-centric, digital financial services company. The Company allows members to borrow, save, spend, invest and protect their money. Bank Of America and others has Raised The Price Target and NOW I think would be the best time to increase positions the stock could see $25 over the next Few Days and even more over the Quarter

The Company has developed a financial services platform to offer products to members and meet their financial needs. The Company operates through three segments; Lending, Financial Services, and Technology Platform. Its Lending segment offers multiple loan products, such as student loans, personal loans and home loans.

In order to become a bank, $SOFI plans to acquire California community lender Golden Pacific Bancorp and operate its bank subsidiary as $SOFI Bank. The deal was announced last year and is expected to close in February.

While officially entering the banking business brings on more regulatory oversight, it also improves the company’s economics. By cutting out the middleman, SoFi gets a bigger slice of each transaction. CEO Anthony Noto said a national bank charter will allow lending at more competitive interest rates, and give SoFi customers higher-yielding accounts.

Submitted January 19, 2022 at 05:31PM by DrHaroldElam
via reddit