SoFi: Rising Above The Noise
- SoFi continues to refute all claims the digital bank has a loan accounting issue.
- The student debt moratorium is set to expire within months leading to another loan growth catalyst.
- The stock trades at close to just 10x '24 adjusted EBITDA targets.
Despite SoFi Technologies (NASDAQ:SOFI) CEO making the rounds with the media and investment conferences, the market still appears to misunderstand the investment story. The fintech clearly doesn't face an issue with how the company handles the accounting on their loan originations, yet the market constantly pushes this false narrative causing the stock to trade $5. My investment thesis remains ultra Bullish as the digital bank isn't valued based on the growth of the business and the strong adjusted profits.
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