SoFi – A Stock To Talk About

Typically on Thrifty Investing, we talk about SoFi, because of the app. Yes, it’s one of the greatest apps out there that gives you access to a huge list of financial products as well as traditional bank and credit card access.

Today, I want to talk about SoFi, but this time the stock. (I am not a financial advisor and do your own due diligence.)

Occasionally you get a good feeling about a stock. Such a good feeling that you don’t care what the analysts say, or care if other investors are in the stock or not, you just have to own a piece of that company. That company to me is SoFi.

This week they had reported earnings that sent the stock lower. They’re now a profitable company, but for some reason analyst get stuck on the “Its a bank” mindset. SoFi is much more than just a bank. It’s a one stop destination to most financial products. All at your fingertips, and for the most part, fee free.

With the retail investors growing in size, they need a great brokerage account. And with so many brokerage firms out there, they have to do something that stands out. SoFi has several stand out products that can help increase your net worth.

SoFi seems like an anti-hero bank, because yes, you can bank with SoFi, they are the official bank of the NBA, but you can also buy and sell stocks, ETFs, Alts, Options, as well as big flagship funds that aren’t normally accessible to the retail trader, like the Ark Fund.

They offer credit cards that have rewards that go to buying more shares or fractional shares, and they offer travel discounts through other partnerships. My only gripe is the need for direct deposit to get access to a few other features, but in the bigger picture, there is little I would change about SoFi and the app.

Being profitable and giving so much access to retail investors and retail traders to a large amount of investment and financial products, it seems like so much more to me than just a bank.

I’ve picked up more shares and increased our position in SoFi during it’s beginning week down trend, but it looks to have paid off as the price has been increasing this morning.

What are you looking at today? Is SoFi in your portfolio?