What’s Happening with SoFi Technologies Stock?
SoFi Technologies Inc (NASDAQ:SOFI) shares are trading lower after the company announced the appointment of Stephen Simcock as General Counsel.
Who:
SoFi Technologies Inc announced the appointment of Stephen Simcock as General Counsel.
What:
Stephen Simcock will replace Rob Lavet as the chief legal officer of SoFi. Simcock previously served as vice chairman of JPMorgan Chase & Co’s legal department and as general counsel of Chase’s retail businesses.
When:
The announcement was made on Monday.
Where:
SoFi Technologies Inc is based in the United States.
Why:
Simcock will oversee legal affairs, regulatory compliance, and corporate governance at SoFi. Lavet is set to transition into an advisory role at the company.
“We are thrilled to welcome Stephen to SoFi. His deep experience in financial services – along with demonstrated success as a culture and business leader – make him an excellent fit for SoFi as we pursue our path to becoming a top 10 financial institution,” said Anthony Noto, CEO of SoFi.
Despite trending on Stocktwits for a majority of Monday’s trading session, less than 19 million SoFi shares have changed hands on Monday versus SoFi’s average session volume of approximately 47.5 million, according to Benzinga Pro.
Is SOFI A Good Stock To Buy?
Wall Street analysts view SoFi on the whole as a **Buy**, given the history of coverage over the past three months. John Hecht from Jefferies is the most bearish, expecting a 20% fall in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, SoFi fell 7.87%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 26.18% over the past year.
SoFi shares were down 1.38% at $6.80 at the time of writing.
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