🚀 Big news from the investment world: SoFi enters into a strategic agreement with Fortress Investment Group! 💼💰
SoFi Technologies $SOFI is about to change its strategy with the acquisition of $2 billion worth of personal loans from Fortress Investment Group . The move moves SoFi from a traditional banking business to a fee-based business, allowing it to be more responsive to its clients' needs while reducing the risks associated with lending.
SoFi is a US FinTech company that offers a wide range of financial products and services, including personal loans, student loan refinancing, investment options, credit cards and bank accounts.
📈 Shares respond by rising more than 10 % following the announcement of the deal. This is a clear signal that the market sees this move as a positive change.
SoFi's CEO, Anthony Noto, was clear : "This agreement will allow us to more efficiently meet the financial needs of our members and enhance growth based on less capital-intensive revenue streams." 🏦
This strategy will give the company greater flexibility in lending, with the financial risk assumed by Fortress. SoFi will thus continue to grow in personal, student and mortgage lending, without straining its own balance sheet.
This move may just be the beginning. Low-capital-intensive financial platforms have tremendous potential and SoFi is on its way to becoming a leader in this space. 🌍📊
I own a few shares of this company and am very happy with the growth, is anyone in the same boat with me?
What's your take on SoFi?
A nice cheap stock that will grow over time. At least that's how I look at it. Yesterday's up was pretty good. Let's see if it's not another Palantir :)
For me, a volatile but quality stock. I see quite a bit of potential here, but I won't be buying at the current price.