NASDAQ:SOFI - Nasdaq - US83406F1021 - Common Stock - Currency: USD
To gain an edge, this is what you need to know today.
SoFi's stock is down, but that's a short-term reaction to great long-term trends.
SOFI stock is down sharply despite posting its best year ever; however on a day when all technology stocks were getting whacked this could be time to buy
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For the fourth quarter, SoFi Tech reported a 19% year-over-year (YoY) rise in net revenue to $734.12 million compared to a Wall Street estimate of $682 million. Earnings per share (EPS) stood at $0.29 versus an analyst estimate of $0.04.
Cathie Wood's ARK Invest offers several popular exchange-traded funds (ETFs), and they tend to be rather concentrated, with all of them holding three dozen or fewer stocks. The banking innovator is the sixth-largest holding in the ARK Fintech Innovation ETF (NYSEMKT: ARKF), making up 5% of the fund's total assets. You'll also find about $95 million worth of SoFi stock in the flagship ARK Innovation ETF (NYSEMKT: ARKK), and it's also worth noting that the SoFi app is the exclusive distribution partner for the ARK Venture Fund (NASDAQMUTFUND: ARKVX), which allows investors to get exposure to companies like SpaceX and OpenAI before their initial public offering.
SoFi, Upstart, and PayPal all look undervalued relative to their growth potential.