Is SoFi Technologies (SOFI) A Good Stock To Buy Now? – Yahoo Finance

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Miller Value Partners recently released its Q2 2021 Investor Letter, a copy of which you can download here. The Miller Opportunity Trust Class I gained 4.18%, underperforming its benchmark, the S&P 500 Index which returned 8.55% in the same quarter. You should check out Miller Value Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.

In the Q2 2021 Investor Letter, the fund highlighted a few stocks and SoFi Technologies Inc. (NASDAQ:SOFI) is one of them. SoFi Technologies Inc. (NASDAQ:SOFI) is an online personal finance company. In the last three months, SoFi Technologies Inc. (NASDAQ:SOFI) stock lost 28%. Here is what the fund said:

“We entered SoFi Technologies Inc. (SOFI) on a private investment and public equity (PIPE) deal earlier this year, and it closed in the quarter. SoFi is a “fin-tech” company offering borrowing, saving, spending and investing offerings. The company has no brick and mortar locations allowing them certain efficiencies. SoFi reinvests savings back into the business by providing customers with higher interest rates on deposits and lower loan rates. It uses data to improve loss ratios and reduce risk.

SoFi is led by Anthony Noto who we’ve known for many years. Most recently he served as Twitter’s CFO and worked at Goldman Sachs prior to that. He’s a thoughtful executive that understands how to drive business value. Overtime, they think they can continue to gain market share from traditional players in the space. We think there’s significant potential in SoFi.”

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Earlier this month, we published an article revealing that SoFi Technologies Inc. (NASDAQ:SOFI) was one of the 5 best meme stocks to invest in.

Our calculations showed that SoFi Technologies Inc. (NASDAQ:SOFI) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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Disclosure: None. This article is originally published at Insider Monkey.

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