In recent months, companies listed through SPAC (Special Purpose Acquisition Company) mergers have made huge gains and one of the companies that could be followed by investors is fintech firm SoFi Technologies Inc ( NASDAQ: SOFI).
Earlier this month, the company was made public through a SPAC merger with Social Capital Hedosophia Holdings Corp V. Investors who might be interested in SPAC stocks and the fintech space would do well to follow the SoFi action. At this point, the stock is still in a phase in which the price is determined by the market and, as a result, it has exhibited considerable volatility.
In the last three trading days alone, the stock has fallen 15% and it may be time for investors to consider whether this could be the opportunity to get into SoFi stock.
In this regard, it is necessary to emphasize that the projected growth of the company until 2025 remains at 43% CAGR. Experts also believe the company has the best growth prospects in the FinTech sector. Therefore, despite the volatility, SoFi is a stock that might be worth following.
At 12:05 p.m., SOFI stock fell 1% to $ 19.08 with over 30.28 million shares, from its average volume of 5.70 million shares. The stock has traded in a range of $ 19.01 to 20.98 after opening trade at $ 20.52 Over the past 52 weeks, the stock has traded in a range of $ 11.80 at 28.26.