SoFi CEO Anthony Noto on state of the economy, product offerings and growth outlook

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CNBC’s Julia Boorstin and SoFi CEO Anthony Noto join 'Squawk Box' to discuss the state of the economy, SoFi's product offerings, navigating in a high interest rate environment, growth outlook, AI integration, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/42d859g
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Опубликовано:

6 окт 2024

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Комментарии : 176

@babtomorri 2 месяца назад

Noto is a great CEO. Stock is not the company and the company is not the stock.

@jw_adventures 2 месяца назад

the stock always catches up to the company and my now 89k shares are ready for that day!!!

@b.sharp. 2 месяца назад

Horrible CEO with zero background in fintech. The guy was the CFO then COO of Twitter and look how that turned out. He has no experience as being a CEO and the stock has reflected his inexperience. He calls Sofi a 1 stop shop but doesn't offer anything that amex, chase, citi, etc don't already offer all in one place. Watched an interview with ARK Invest from earlier this year, where he said he didn't even know that Chase had a brokerage service. Absolutely clueless! In that same interview, he calls DAVE a key competitor. Then in this very interview here, he just said that "fintech companies with credit exposure have been hit hard", but that's just not true. Sofi is DOWN 33% YTD, while DAVE is UP 293% YTD.

@gregoryspera4062 2 месяца назад

@@jw_adventures I think we are ALL more than ready for that day, by now.

@88doonyboy88 2 месяца назад

Well said. Exactly.

@b.sharp. 2 месяца назад

@babtomorri I beg to differ. This CEO has zero background in fintech. Noto was the CFO then COO of Twitter, and look how that turned out lol. He has never held the role of CEO before, and the stock has reflected his inexperience. He calls Sofi a 1 stop shop but doesn't offer anything that amex, chase, citi, etc don't already offer all in one place. Check out his interview with ARK Invest from earlier this year where he said he didn't even know that Chase has their own brokerage service. In that same interview, he calls DAVE a key competitor. Then in this very interview here, he just said that "fintech companies with credit exposure have been hit hard", but that's just not true. Sofi is down 33% YTD, while DAVE is up 293% YTD.

@GARP-Investor 2 месяца назад

The stock has it's biggest discount now. They turned into profit even though rates increased dramatically. AI will help to grow with less risk. Companies outlook is fantastic. I don't understand the short interest of 18% but I'm excited to see that short squeeze!

@Inexpugnable007 2 месяца назад

Awesome. Will purchase some shares. Love to see the mgmt. level of experience, with a proven track record of success. Next 5 years, SOFI will be a banger of a stock.

@OliverLiam-px3vx 2 месяца назад

Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.

@BrianAlbert-hh3pi 2 месяца назад

The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have a great deal of skill and knowledge to pull such trades off.

@AshleyKeith-vw7ws 2 месяца назад

Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from Desiree Ruth Hoffman, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

@LeahLewis-ny9iu 2 месяца назад

That's incredible! How can I connect with the person who helps you with investments, if you don't mind sharing? I could use some guidance at the moment.

@AshleyKeith-vw7ws 2 месяца назад

Desiree Ruth Hoffman is the licensed advisor I use. Just research the name. You’ll find necessary details to work with her correspondence to set up an appointment.

@LeahLewis-ny9iu 2 месяца назад

Thank you for this pointer. It was easy to find your advisor; she seems very proficient and flexible. I booked a call session with her.

@garrettkelly5568 2 месяца назад

Great time to buy Sofi .. will definitely increase over the coming years

@redoubt6784 2 месяца назад

Noto for President

@redoubt6784 2 месяца назад

@@goodfeather16 i meant the president of the United States ha

@Truth-hurts-890 2 месяца назад

@@redoubt6784he’s too smart for that job

@redoubt6784 2 месяца назад

@@Truth-hurts-890 so true

@DG-yp6bl 2 месяца назад

Noto is a top 5 ceo in my book.

@theteacher2000 2 месяца назад

Yes, he and Alex Karp

@b.sharp. 2 месяца назад

@@DG-yp6bl why? He has zero prior CEO experience and has provided only losses for shareholders

@theteacher2000 2 месяца назад

@@b.sharp.yes. Historically revolutions have been driven by very experienced people. Not new thinkers at all. 🤔🤔🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️

@b.sharp. 2 месяца назад

@theteacher2000 those aren't mutually exclusive concepts 🤣🤣🤣 you don't have to be an outsider to bring change in the industry. What backwards thinking. And to consider Noto a force for change is just laughable. He's changed nothing in the industry. He is the most cliche big business stiff. Text book in fact. His background is literally as an investment banker.

@pbhakta80 2 месяца назад

I bought a ton of SOFI today ahead of NOTO on CNBC

@EmpireEnglishSchool 2 месяца назад

He's a master of promoting the business while answering non-related questions 😅

@trunkmonkey355 2 месяца назад

CNBC cut that abruptly..😂

@SpotTheOdd123 2 месяца назад

Haha. I noticed that too. Props to Noto for being honest about his views 👏

@LoriRish- 2 месяца назад

The Fed's talk of interest rate cut leaves me pondering what stocks to buy now and when do I sell? I'm unsure how to properly allocate my money to achieve an optimal portfolio in this present economy, my goal is $3m for retirement.

@AstridJohansen-z 2 месяца назад

navigating market volatility can be challenging, it might be beneficial consulting with an advisor to provide personalized insights based on your specific situation and financial position

@mette-lo 2 месяца назад

True, I always emphasize the significance of having an advisor. This has kept me afloat since the covid-19 outbreak and as of today, I'm just about 10% shy of my first million dollar after subsequent investments.

@Woodstev- 2 месяца назад

@@mette-lo nice one! who is the professional that guides you please? enthused about investing for my eventual retirement but dont know how to go about it, for now I only invest in my 401k through my employer and gains are quite slow

@mette-lo 2 месяца назад

Katherine Nance Dietz is the licensed FA I use. Just google the name. You’d find necessary details to work with and set up an appointment. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

@itonlytakestime 2 месяца назад

insightful comments, curiously searched Katherine Nance Dietz on the web and at once found her page, no bs! she seems impeccable..

@kylepatterson4793 2 месяца назад

She had a hit piece in mind.. noto just killed that report yesterday

@ChristianDelgado-pq5sr 2 месяца назад

This is Amazon in 99 Strong strong business Also institutional investors have been Heavy Buying with 13-f filing this whole year Big money understands this stock price is meant for them to load up

@Tendomcgoobin 2 месяца назад

Delusional

@van2810 2 месяца назад

Sofi is a bank... it will not grow like Amazon

@jw_adventures 2 месяца назад

@@Tendomcgoobin what part? institutional ownership is at all time high, this is one of the most diverse or is the most diverse banks that I know of. NO brick and morter, 50% of revenue coming from services not lending related the company is performing fantastic.

@PartyLife4me 2 месяца назад

Wrong-and Joe Biden doesn't have dementia 😂😅

@EricSoult 2 месяца назад

Anthony Noto seems confident and brought me confidence back into SoFi!

@EllenGreidinger 2 месяца назад

Unlike most financial institutions, SOFI generates rapid growth and reinvests in its business. They have spent money acquiring customers who will generate profits for years. They present the customer with personal loan alternatives in a way others do not. They clearly focus on technology while not trying to serve too many customer segments. Noto himself also has tremendous personal attributes. Take a look at his biography.

@TicketStud 2 месяца назад

What personal loan alternatives does Sofi offer that others do not?

@RoqueTrades Месяц назад

Very Excited for SOFI

@crispyduck1706 2 месяца назад

I’m adding more of this really like the CEO he oozes confidence and is very credible with his strategies

@roberttaylor662 2 месяца назад

Fed drops rates, we will see a massive depression. Inflation will skyrocket. Lets hope for a good news , how can one diversify $80k portfolio in this current state of the market.

@Andreallln 2 месяца назад

Investing appropriately today can save you a whole lot of stress in the near future, so anyone who is not investing now is missing a great Opportunity

@dogmom-pt5we 2 месяца назад

Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 75% capital growth this year, excluding dividends.

@purplebliss6875 2 месяца назад

Wonderful!!! I've recently sold property and aim to invest proceeds in stocks, I'm seeking guidance. How can I reach them?

@dogmom-pt5we 2 месяца назад

I've worked with a few different financial advisors, but I ultimately chose ''Melissa Marie Colby'' because she seems to be very thorough and knowledgeable about the financial market, and yes I do make more.

@purplebliss6875 2 месяца назад

Thank you for sharing, I must say, Melissa appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.

@paymansharifi2445 2 месяца назад

I am way heavily allocated into sofi And when it dropped to 6.20 i sold several other positions and bougbt 500 more at 6.19 My goal is another 4k shares but if sofi goes up im fine with what i have too.

@cowpokecale9456 2 месяца назад

Great talk!

@johnhill2927 2 месяца назад

Bro is smooth 😂 well done. 🎉

@Brennan-34 2 месяца назад

He knows which political side is coming out on top

@lamf1617 2 месяца назад

which, the one with the guy who's a 34X felon who's been convicted of corporate fraud and gone bankrupt numerous times?

@SpotTheOdd123 2 месяца назад

@@lamf1617 Nope...He's talking about the guy with the best mugshot ever.

@Galaxy9026 2 месяца назад

Sofi great company and this market fives great opertunity stock

@DrewPBalls69 2 месяца назад

SoFi is great

@KHasan-de6yq 2 месяца назад

The first question was about economy and most of the time he took to explain how well his company is doing

@benofhumble 2 месяца назад

🎉love it

@crispyduck1706 2 месяца назад

That’s good we now now how his company has adapted to the changing economy - great job by the CEO

@diegog1291 2 месяца назад

Been holding off because I have been putting all my investment money into Tesla but with this large run in Tesla it's time to start putting some into SoFi.

@whatsonmymind9 2 месяца назад

Come on NOTO. you can do this.

@IsaacCoverstone 2 месяца назад

SOFI $20 EOY with rate cuts.

@jamesbaum9775 2 месяца назад

No way it is getting there that quickly but if it does I'll be a very happy man.

@chartedtravel1776 2 месяца назад

No cuts. Listen to Powell

@oel123-f5t 2 месяца назад

powel will be fired

@TortugaDeRio 2 месяца назад

It's going there don't listen to the uneducated sofi 🤟

@thepixalking6589 2 месяца назад

Let's be happy at a stable $10 eoy.

@logikalx 2 месяца назад

Even Noto hates SOFI stock, but he still buys it

@andrewde78 2 месяца назад

5,700 shares and counting

@joaquimcevallosmorales8944 2 месяца назад

It's all about risk management, I am -22%, small position. Let's see how the story evolves

@maikelhulsker6315 2 месяца назад

Cool Shoes ! Which model and brand is that?

@pbhakta80 2 месяца назад

SOFI IS GOING TO BEAT ON Q2

@dingalingdingdong_123 2 месяца назад

LFG!

@fernandomercado4557 2 месяца назад

Sofi gonna be in 40s very soon

@straightdrive6192 2 месяца назад

everybody is doing just fine. relax.

@ChristianDelgado-pq5sr 2 месяца назад

Also… sofi made the 1 billion dollar Galileo purchase last year. People don’t understand how big of a deal this is. Just like Amazon owns the rights to AWS and every company who uses it owes them a license fee. Sofi now holds the rights to the AWS of banking

@PlasticPellets 2 месяца назад

@kellywalker4494 2 месяца назад

This is nonsense. Sounds like marketing hype. There is no AWS of banking, this is a misconception.

@TicketStud 2 месяца назад

Someone's drinking the kool-aid lol

@joshuarobinson6444 2 месяца назад

I Just like the stock 🦍🦍

@OnFireFinance 2 месяца назад

The bots in this comment section are unreal lol. No reason for people to be praising Noto like this. Zero.

@momagdy8469 2 месяца назад

Great interview, more bullish than ever.

@jayteepodcast 2 месяца назад

Sell the NBA and get stock moving Noto time is ticking

@syedshah7510 2 месяца назад

Democrats may sell SOFI now out of anger from Noto’s Republican comments 😂

@ericmodernel9205 2 месяца назад

Good the dems are garbage we don’t need them. Dead beats want free college off the tax payer

@trunkmonkey355 2 месяца назад

Hopefully, you're right. Dems have a track record of making poor choices.

@clausbohm9807 2 месяца назад

yeh, I will ignore that statement he made and look at his record on banking! I guess he forgot that Bill Clinton balanced the US gov Budget! or that Obama got us out of a banking tailspin given to us by Bush! he is a smart guy but stupid on politics ... just like Elon.

@jamesbaum9775 2 месяца назад

You could see the reporter's heart sank a bit on those comments. 🤣

@clausbohm9807 2 месяца назад

Got shadow banned on my factual and candid comments about Clinton and Obamas great handling of the economy ... thank you YT for censoring my comments!

@alb.1911 2 месяца назад

👏🏻👏🏻👏🏻

@PlasticPellets 2 месяца назад

his ankles bother me

@dollarbill9073 2 месяца назад

WTF?

@careswho777 2 месяца назад

me too mate, i think this will drive the stock down at some point...

@-TheOracle- 2 месяца назад

I totally agree! He looks like his ancles are swollen with gout Gout GOUT! Oh gawd is it gout?

@SR-vq8kn 2 месяца назад

No CEO should EVER be in public with exposed ankles! Especially during an interview on live television! I am appalled!

@willbergjames 2 месяца назад

please pump up the stock

@cleanair1183 2 месяца назад

Look for SOFI to move through its 52 week high of $11.70.

@253332 2 месяца назад

We make 4.60 apr on savings.. brick and mortar cant touch that.

@Noodles8ify 2 месяца назад

I don’t know that Noto served as an army ranger and held the rank of first lieutenant.

@anthonyskorupski 2 месяца назад

@Noodles8ify he's done a lot more then that, go do some research and get some money in the market before its to late!

@Noodles8ify 2 месяца назад

@@anthonyskorupski will do 🫡

@Agent77X 2 месяца назад

It is better for Sofi to be loosing money, stock price was higher! Sofi all time high is around $24.65!😂

@robertoc.j.5563 2 месяца назад

👍

@SuperRockstarVideos 2 месяца назад

The only CEO that buys his own stock.

@katielowen 2 месяца назад

I heard the rich taste good with barbecue sauce 🤤

@DjSuperK 2 месяца назад

Someone should ask him the hard questions. Like why did they remove delinquency’s from where they use to be? 😂😂 they hid them in their report. They made it hard to find. It use to be like on the front page. 😂😂😂😂

@warrenlowe676 2 месяца назад

TRUMP 2024

@rooner1231 2 месяца назад

He seems like a pretty down the middle kind of guy who's focused on his business. I don't see anything untoward that he saying.

@kellywalker4494 2 месяца назад

Noto has good EQ and says all the right things. However, the stock has been an absolute disaster. I still don’t see any innovation from SoFI.

@AmirA-bx5zr 2 месяца назад

SoFi has the worst CTO I have seen, no innovation or features improvement for three years. This is a huge red flag

@TehDeeBjorn 2 месяца назад

The stock sucks..don’t forget the shelf stock offering..dilution in waiting. Sell the company to JP or BA

@michaelkitchens6022 2 месяца назад

Short term...ok. Long term sitting sooooo pretty. Noto gets paid huge bonus' based on stock prices. He has it positioned to rocket as institutions are jumping in now.

@darkslippery1996 Месяц назад

You could say I'm something of a Notosexual.

@theteacher2000 2 месяца назад

SOFI $10 EOY with rate cuts and $8 without cuts. I am bullish on SOFI but to think this will hit $20 (as someone said) is sadly wishful thinking.

@IvyLeagueRedneck 2 месяца назад

I look at it in terms of market cap and is SOFI an 20B market cap company. Its not from a traditional evaluation perspective. but the market is not rational. Hood is a 20b company with fewer products and no bank charter than sofi. But a little more profitable currently. IMHO Hood is overvalued, and SOFI is under. both should probably be in the 10-15 b market cap range. So yeah, i am more in line with your $10 EOY range as well but there is always hope for an irrational run like HOOD. I hope they continue to hit and exceed guidance; we see $10+ by EOY, 15+ by EOY 2025 and 25+ by mid 2026 for noto to hit his bonus. Time will tell.

@PartyLife4me 2 месяца назад

EOY maybe $7.50

@IvyLeagueRedneck 2 месяца назад

@@PartyLife4me certainly possible. With this stock it could hit $12 this year and still end the year at $7.50. It was $11 not that many months ago. For me I have my position baked. I will reassess mid 2026 hoping they hit the min price target of $25. until then I am an investor, not a trader. I like the company; I use them and believe in their approach over traditional banks. And i am in my late 50's who left WF after 30 yrs. The model makes sense.

@tamages 2 месяца назад

He should not take side with politics…😰

@ericmodernel9205 2 месяца назад

Let me guess your a stupid Biden voter

@IvyLeagueRedneck 2 месяца назад

Jordan said it best when someone was trying to push him politically. " Republicans buy sneakers to"

@danielstellwag3081 2 месяца назад

I would expect him to take this political stance since the current administration is trying to do everything they can to cancel student loans.

@lamf1617 2 месяца назад

just lost my taste for the company, and i'm a large shareholder.

@jw_adventures 2 месяца назад

@@lamf1617 well... large is relative term. No way its that large tho if your that emotional that noto just called himself a liberal that is fiscally conservative . Becasue bad policy would be hitting your pokcet too if you had that much of a position.

@Maxrotor1 2 месяца назад

Weak CEO working for a predatory company.

@anthonyskorupski 2 месяца назад

@Maxrotor1 as you make minimum wage typing your comment from a laptop lol... all you trolls are going to watch this stock soar!!

@tosch9496 2 месяца назад

Noto...you should get whales on board. Start increasing the institutional investors. There are still 600 million shares left for manipulating the stock for many years in a negative way. You must fix this issue

@justinmalabanan8298 2 месяца назад

I don’t think there will be any rate cuts this year

@colbybrady2187 2 месяца назад

SoFi filed lawsuits against debt relief. I was about to switch some of my accounts to them before I read that news. Screw SoFi.

@jw_adventures 2 месяца назад

no one should pay for yours mine or anyone elses education. If somoene wants to blow 100k on a liberal arts degree while they find themselfes thats great - but you need to pay it back on your own.

@colbybrady2187 2 месяца назад

@@jw_adventures, you assume too much in your ignorance.

@jw_adventures 2 месяца назад

@@colbybrady2187 zero assumptions, those were opinions.... and now ill add in a fact. Goverment is not our daddy.

@colbybrady2187 2 месяца назад

@@jw_adventures, $100K debt in liberal arts? Pure erroneous assumption fueling an ignorant opinion. A minor $10K bit of student loan relief payback to citizenry that have invested in themselves, and our nation’s educated future, is a drop in the bucket compared to the 2008 bank bailouts, or the wildly abused PPP absurdities, neither of which critics of student debt relief are concerned with. $10K is a minor dent in what an education costs these days, or even what it cost 10-20 years ago. Regardless, the relief forgave a small slice of the debt for many with STEM and other critical degrees for our country’s well being, and the fact remains, screw SoFi.

@alexgarcia6267 2 месяца назад

There is no reason for rates to come down at all

@kennethsomers3893 2 месяца назад

does not matter the Price of the Real Estate Market is in a Bubble and there is nothing the FED can do about it __ this is the direct result of pumping Trillions into the Economy with years or Zero Interest Rates __ the Institutional Real Estate Investors were given free money and bought blocks of Real Estate and pumped up the prices this is called GREED

@Dave-cf4vd 2 месяца назад

@@kennethsomers3893 We just imported 8 million new citizens, not including the 5m who came legally... and you think real-estate is in a bubble? Nope. The more you "keep waiting for that big re-adjustment" the harder it will be for you to ever own anything. Look at Canada: 80% of the land is empty, and yet housing prices are worse than in the US. Why? Rampant LIBERAL immigration policies.

@TicketStud 2 месяца назад

Jerome powell just said yesterday he's seeing cracks in the labor market due to rates being too high for too long. High rates can cause a recession. Huge reason to cut a little now just to be safe.

@alexgarcia6267 2 месяца назад

@@TicketStud it won’t help. Prices will be so high to where people will give up.

@PartyLife4me 2 месяца назад

For a company that went public over 3 years ago at $21 a share, its now almost at $5. Even Biden mighbt be able to run this company better than this clown. You are judged by how well your stock price is as a CEO.

@WalterWhite84762 2 месяца назад

Sell your SoFi stock. Americans do not want another trump presidency and we definitely do not want services and products from a trump supporter. Cancel your SoFi account

@minimechicago 2 месяца назад

Sofi is dead money.

@elaaccqq 2 месяца назад

Stock ain't going anywhere with Liz Young as the head of investment strategy 🤣🤣

@syedshah7510 2 месяца назад

She is a joke!

@rtorcato 2 месяца назад

So he's a trump supporter. I will be selling my Sofi stock

@jw_adventures 2 месяца назад

haha all he said he was liberal and has left views but fiscally conservative and a republican is better for his business... that is all. She asked him about financial policy only nothing else and he was truthfull..

@AHouse181 2 месяца назад

Wants to help people get their money right, but votes for trump? Lmao, guess he really wants to get his own money right

@Dave-cf4vd 2 месяца назад

Are you oblivious to economic reality? The economy was terrible under Obama, great under Trump, and terrible under Biden. It is as simple as: Ds focus on globalist trade deals, high immigration and high taxes. Not good for business or you, but great for campaign donations from megacorps.

@jodame3925 2 месяца назад

horrible CEO and the company will be the last for me to check, they dont care about people lives being better! only the bottom line and the bots in the comments knows that

@GARP-Investor 2 месяца назад

Haters gonna hate 😂

@seazestyt 2 месяца назад

@@GARP-Investor One could not get better CEO . The fact the stock is trading that low has to do with a number of other things rather than fundamentals.

@Dave-cf4vd 2 месяца назад

Correct: the CEO's job is to worry about the bottom line, and not how many 2-spirits they hired.

@TicketStud 2 месяца назад

@@seazestythe has no prior experience being a CEO. His last position was running Twitter into the ground. Absolutely zero fintech background. There are literally thousands of better options.