Social Capital Hedosophia Holdings Corp V (NYSE:IPOE) is a special purpose acquisition company (SPAC) that will merge with SoFi, a California-based online bank and brokerage, in the coming quarter of this year.
SoFI is an online bank who had recently purchased Golden Pacific bank on March 9 for about $150 million. This deal must be approved by the Office of the Comptroller of the Currency and the Federal Reserve. If approved, SoFi can become a national bank, which could take direct deposits and make loans based on their deposits rather than acting as a re-seller. This is a good deal after the merger. Recently, SoFi has announced it will offer credit cards and auto loans. SoFi has a brokerage that competes with Robinhood and has a payment processor named Galileo.
Therefore, investors should purchase IPOE before the merger with SoFi. Once the merger happens, this stock will rise as revenue will be growing year over year.
SoFi stock price will explode after the merger.
IPOE will rise again.
Best new FinTech stock, IPOE.
Once merge, SOFI (IPOE) will grow year over year.
Love SOFI as brokerage and stock