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Is SoFi Stock Done For?

In this week’s episode, Aaron and I check back in on some of the stocks we’ve been super bullish on of late. Most notably: SoFi (NASDAQ:SOFI).

Folks have been a bit on edge with the stock ever since President Joe Biden extended the country’s student loan moratorium. SoFi got its start in the student loan realm, so investors are understandably worried about the impact on SoFi’s future. Us? Not so much.

Yes, it’s true that student loan refinancing is a large part of SoFi’s business today… but guess what? This moratorium doesn’t change my bull thesis on SOFI stock one bit.

Think about it like this: Once upon a time, Jeff Bezos hinged Amazon.com’s success on selling books, just like SoFi hinged its success on student loans. But today, Amazon’s (NASDAQ:AMZN) book-selling business represents — what? — a fraction of a percent of its overall business? The same will be true for SoFi, as it’s building an all-in-one “super app” in which student loan refinancing is an afterthought.

It’s why we call it “the Amazon of Finance.”

In short, SoFi’s big-picture vision is much larger than its student loan offerings. And end game, the student loan moratorium will register just a little blip on the radar.

But that’s not all we cover this week… Aaron and I also get into the three major factors looming over the stock market right now — the U.S. Federal Reserve, Russia-Ukraine war, and Covid outbreaks in China.

What does this mean for stocks going forward? Hit the jump to listen and watch now!

On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/hypergrowthinvesting/2022/04/is-sofi-stock-done-for/.

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