Reported 2 days ago
SoFi Technologies saw its stock price soar by 55% in 2024, attributed to consistent profits and rapid member growth. The online bank added 756,000 members in the third quarter alone, achieving a net income of $58 million, a significant turnaround from last year's losses. While its roots in student lending remain strong, the company is diversifying its services, with non-lending areas now contributing nearly half of its revenue. CEO Anthony Noto aims to position SoFi among the top 10 banks in the U.S., suggesting a promising future for both the company and its investors.
Source: YAHOO