SoFi Stock Is on Fire After $2 Billion Financing Deal

SoFi (NASDAQ: SOFI) will sell $2 billion of its personal loans in the future through a platform deal that, if replicated, could ease the strain on the company's balance sheet. Instead of its growth being capped by the amount of capital available, the lending business could grow as fast as demand grows. In this video, Travis Hoium shows why this may unlock a new wave of growth for SoFi.

*Stock prices used were end-of-day prices of Oct. 14, 2024. The video was published on Oct. 14, 2024.

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Travis Hoium has positions in SoFi Technologies. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.