Yes – the macro is terrible. Yes – student loan payments being suspended means their revenues face headwinds. Yes – rising interest rates.
But – have you actually used their app? It is one of the cleanest UIs I’ve seen next to Robinhood (boooooooo). Once you get in to their app, the focus on cross-sell is nothing short of impressive.
Only wanted SoFi for their stocks? Too bad, you’re going to be incentivized with points to open a checking account. You thought that was it? Open credit card and get even more points. All points are redeemable for cash. They have one of the lowest cost of acquisitions in the industry and I can see why. The app is built absolutely beautifully.
I encourage you – give their app a shot. It just flat out works. I’m planning on refinancing a loan with them here soon. Because? Their stupid app and I get money back.
I didn’t want to focus on quantitatives. Just wanted to put my two cents on why you should be bullish on $SOFI for long term.
Positions: Dec 2023 calls. Entered mid 2021. Bleeding since Jan 2022. Still bullish.
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