Are People Moving Deposits Out of SoFi Bank?

By Parkev Tatevosian, CFA – May 14, 2023 at 7:01AM

NASDAQ: SOFI

SoFi Technologies

Market Cap

$7B

Today's Change

(2.87%) $0.20

Current Price

$7.16

Price as of May 6, 2024, 4:00 p.m. ET

With interest rates rising, people are looking to move their money to higher-yielding places.

Fool.com contributor and finance professor Parkev Tatevosian looks at how successful SoFi (SOFI 2.87%) has been in retaining customer deposits.

*Stock prices used were the afternoon prices of May 11, 2023. The video was published on May 13, 2023.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through fool.com/parkev, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.