Traditional banking giants are trading at larger multiples while growing at. Yet SOFI stock is trading at 0.9X its book value. RAY WANG: But they could have broken even if they had the student loans. We see this as a company that will grow 20 per year into 2030. Of course, maybe not a head wind in the long term Ray, with some of the potential advantages you're talking about as well. So for that business to be hampered in the short term is definitely a headwind. SoFi said today in their report that their student loan volume of just about over $525 million was down more than 50% from the average pre-pandemic volume.Īnd student loans account for about 15% of the loans that SoFi is putting out there. We've been talking about this moratorium for a while now, several years now wondering when that's going to happen. The Yahoo Finance Live team breaks down some of the top moving stocks of the day. It'll be interesting to see if they can get past that student loan headwind and when that does happen, right. SoFis debt deal boost, Advance Auto Parts plunge, HP earnings: Market check. And that's actually very important because there aren't a lot of fintech players that have gotten to the volume and the density that SoFi has. But what we actually think so far is the future of banking for the next generation.
We're waiting for the federal government to actually step up and that's what the lawsuit is about. The big question is really what's going to happen with the student loan crisis and student loan repayment. SoFi Invest: an attached mobile investing. SoFi CEO Anthony Soto joins Yahoo Finance Live to discuss company earnings, contagion concerns within the banking system, driving innovation, the path to profitability, and the outlook for SoFi. It has no account fees, 1 APY and an attached debit card.
When you take a look at the numbers that we got here, Ray, they weren't too bad, yet the street taking some issue with maybe what's to come here over the next several months. SoFi Money: a cash management account that acts like a mobile checking or savings account.
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