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SOFI Stock Oversold? What the Pros Think About SoFi Technologies

SoFi Technologies (NASDAQ:SOFI) stock is on the move Friday despite a lack of news from the loan refinancing and banking company.

the Social Finance (SoFi stock) logo is displayed on a smartphone.
Source: rafapress / Shutterstock.com

SoFi Technologies is an online personal finance company that operates out of San Francisco, Calif. The financial services offered by it include refinancing of student loans, personal loans, credit cards, mortgages, investing, as well as banking.

It’s worth noting that we’re seeing heavy trading of SOFI stock today. As of this writing, more than 43 million shares of the company’s stock have changed hands. That’s quickly approaching its daily average trading volume of 44 million shares.

So should you invest in SOFI stock? Let’s here what our experts have to say.

SOFI Stock Bull Takes

“In mid-January, I said that SoFi stock could hit $30 in 2022. However, I was sure that it would do so with a significant amount of volatility.Therefore, I was only suggesting aggressive investors buy in the mid-teens. Now that it’s lower than $12, my stance on SoFi stock still hasn’t changed. It’s an excellent long-term buy for anyone who believes profitability will come in the future. I do. I’m not sure my colleague shares my opinion. And that’s OK.” — Will Ashworth, InvestorPlace

“Some folks might be disappointed that SoFi is becoming a bank. This is understandable if you viewed the company as an alternative to the banking system. Still, SoFi might be able to broaden its service offerings as a bank. With that, the company’s shareholders might anticipate better returns, even if it takes a while.” — David Moadel, InvestorPlace

SOFI Stock Bear Takes

“To me, the takeaway is that SoFi is simply in flux. It keeps pivoting into new areas while confidently proclaiming it’s strategic logic. Meanwhile, losses are mounting and SOFI stock is down nearly 37% since going public about eight months ago. That’s what investors should be focused on.” — Alex Sirois, InvestorPlace

SOFI stock is down 1% as of Friday afternoon.

Investors looking for more stock market news today will want to keep reading!

We’ve got all the most recent stock news that traders need to know about for Friday. That includes price predictions for Rivian (NASDAQ:RIVN) and Robinhood (NASDAQ:HOOD) shares, as well as Apple’s (NASDAQ:AAPL) metaverse plans. You can get up to speed on all these stories at the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/01/sofi-stock-oversold-what-the-pros-think-about-sofi-technologies/.

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