Over on the popular Reddit investment forum, WallStreetBets, SoFi (NASDAQ: SOFI) is today’s most popular stock. Let’s explore why.
This article explains everything you need to know about SoFi before you invest. We delve into the origins of the company, its current business operations, and its investment prospects moving forward.
To start this article off on a productive note, and in case you want to buy shares immediately, scroll down to find out the best places to buy SoFi stock in the UK and elsewhere.
How & where to buy SoFi shares today
If you want to invest in SoFi quickly and easily, sign up to a low-fee stockbroker, deposit funds using your bank account or credit cards and purchase the number of shares you want to hold. You can also use a broker to trade SoFi shares should this better suit your investment goals.
Here are our top two picks for the best platforms to buy SOFI stock online:
eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.
Financial company driven by technology and offering all-in-one self-directed investment platform that provides excellent user experience.
What is SoFi?
Founded in August 2011 by Mike Cagney, Ian Brady, James Finnigan and Dan Macklin, and based in San Francisco, California, it is an American online personal finance company.
SoFi operates on a mobile-first basis, providing a vast suite of financial products for services such as student loan refinancing, credit cards, mortgages and personal loans. Users can access these services through a mobile app or a desktop interface.
The fintech has today become the most discussed stock on all of WallStreetBets, the infamous Reddit investing community with an eye for risky opportunities to capitalise on.
Should I buy SoFi stock?
While we would usually delve into the fundamental value and growth prospects of a company when discussing whether to invest in it, this isn’t the primary driving force in this instance.
So, if you buy into the current market sentiment and believe SoFi is about to experience a substantial price increase thanks to Reddit buying pressure, getting in now could prove to be a good move.
However, if you are looking for a stock that is not as heavily affected by unpredictable market forces, you may want to steer clear of SoFi, at least until it is out of the crosshairs of the social investing ‘Apes.’