Hey guys, welcome back to YT Finance where I bring you the latest and greatest in the world of finance! And let me tell you, the banking sector has been going wild these past few weeks! Silvergate Capital Corp is winding down operations, Silicon Valley Bank was closed, and US regulators placed Signature Bank into receivership. But, the real question is, what does this mean for our investments? All eyes are on the Federal Reserve interest rate decision and the FOMC economic projections which will be released soon, but let me tell you about my latest investment, SoFi Technologies (NASDAQ:SOFI). Now, a lot of people have been asking if my investment case has changed due to recent events, but I’m still bullish on SOFI! And why wouldn’t I be? SOFI could be a beneficiary of banking inflows and outflows, and CEO Anthony Noto recently made a loud statement by purchasing over $1 million worth of stock. Plus, have you heard the latest news from SOFI? Members with direct deposit can earn 4% APY on their savings and vault balances, and 1.2% on their checking balances with no account, overdraft, monthly, or minimum balance fees! Compare that to JPM or BAC’s measly interest rates, and SOFI is becoming a household name. Their deposit base increased by 535.2% in just one year, and their member growth grew by 51% YoY! I believe SOFI is well positioned for the future, and I’m excited to see their Q1 2023 earnings report coming soon! So, don’t miss out on this opportunity, and let’s ride the SOFI wave to success!
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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.
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