Quotes highlighted from Steven Fiorillo's article published today at 9 AM.
- The market underestimates the long-term opportunity in SOFI and doesn't understand the technical aspect of the business.
- In 2022, Mr. Noto acquired an additional 2.15 million shares of SOFI, with his 2 largest purchases coming at the end of 2022.
- In total, Mr. Noto has purchased 2,175,557 shares with his personal capital since SOFI went public for $11,272,863.44
- It will be increasingly difficult for legacy banks to compete with SOFI as cloud-based banking becomes the norm. SOFI currently offers 3.75% APY on savings and 2.5% APY on checking when members set up direct deposit. JPM is offering 0.01% APY n their savings accounts, and the largest APY that BAC offers is 0.04%.
- SOFI faced tremendous adversity with its student loan business. This became a make-or-break moment, and SOFI rose to the challenge and reinvested its business from the ground up.
- SOFI is delivering and GAAP profitability is around the corner
- The question becomes, what will SOFI accomplish in 2023 and 2024 when synergies between Galileo and Technisys are recognized, student loan originations are back to normal, and the Fed Funds rate is lower, which will make purchasing homes more attractive?
- Mr. Noto will deliver large amounts of capital appreciation for long-term investors
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