Hey everyone, have you heard about SoFi? It’s definitely one of the top fintech stocks that I’ve been keeping my eye on lately! This company is seriously innovative, with so many cool initiatives and acquisitions that are really turning heads. And one of the most exciting things they’re doing is moving into the checking and savings account space! SoFi now offers SoFi Checking & Savings, which has an amazing industry-leading APY of up to 3.75%. Plus, they have a national bank license which means they can expand into even more conventional spaces and offer the best rates on loans. It’s so smart because this will help them maximize their returns while also reinvesting into product and service improvements. But that’s not even the best part – SoFi has been experiencing some seriously impressive growth lately! In just Q4 of 2022, they added a whopping 480,000 new members, bringing their total to 5.2 million. That’s a 51% year-over-year growth rate – can you believe that? And to make sure their members’ funds are super secure, they’ve even increased their FDIC insurance coverage to $2 million per account, which is way higher than the industry standard of $250,000. Now, let’s talk about NIO. Unfortunately, their Q1 deliveries fell short of their midpoint guidance, which is definitely disappointing. But it’s not all bad news – analysts had already marked down their estimates significantly, so the disappointment was expected. And investors are still optimistic about a strong H2 production and delivery ramp-up, which will be crucial to NIO’s 2023 performance. They’re aiming for a really ambitious 250K deliveries target, so fingers crossed they can make it happen! And what about Tesla? Well, they increased their vehicle deliveries by a slim margin, but it’s interesting to note that they had to slash prices across their lineup to make it happen. Elon Musk had previously said that orders were running almost twice the rate of production, but it seems like there was a slowdown later in the quarter. Still, Tesla delivered over 422,000 cars to customers in Q1, which is up about 4% from Q4 of 2022. They’re also scaling up production at two new plants, so we’ll have to wait and see how that goes. But let’s not forget about the long-delayed Cybertruck – Morgan Stanley analyst Adam Jonas has called it a “sideshow” and estimated volume of around 50,000 trucks a year. So, it’s definitely something to keep an eye on. Overall, there’s so much happening in the world of stocks and investing – it’s such an exciting time to be part of it all!
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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice or financial advice and it should not be taken as investment advice or financial advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment and or educational purposes only.
SOURCES:
https://seekingalpha.com/article/4591755-nio-look-past-recent-struggles
https://finance.yahoo.com/news/tesla-deliveries-rise-record-slashing-174735946.html
