If You'd Invested $1,000 in SoFi Stock 3 Years Ago, Here's How Much You'd Have Today

SoFi (NASDAQ:SOFI) has been one of the best performers of the financial sector in 2024 but has taken investors on quite a roller-coaster ride since it went public in mid-2021. If you had bought $1,000 worth of SoFi stock three years ago, how much money would you have today?

The short answer is that SoFi's stock price hasn't moved much over the past three years. If you had invested $1,000 in SoFi on Dec 22, 2021, your investment would be worth $1,024, as of this writing.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. See the 10 stocks »

More to the story

While a 1.7% change in three years might seem contradictory to referring to this stock as being on a "roller-coaster ride," there's a lot more to unpack.

First, SoFi went public in mid-2021 as part of the boom in special purpose acquisition companies, or SPACs, that was underway at the time. Many of the companies that chose this route to go public gained tremendous momentum, especially if they were one of the notable SPAC investor Chamath Palihapitiya's targets -- and SoFi was one of them.

On SoFi's very first day of trading, the stock closed at $22.65, which is 34% higher than its current price as of late December 2024. When the SPAC boom died down, the stock plunged. Three years ago, it was in the earlier stages of a sharp decline.

It wasn't until mid-2024 when SoFi finally started to recover from its slump. In fact, SoFi has gained 145% in the past six months alone, and you can see the roller-coaster ride in the chart below.

SOFI data by YCharts.

Although you'd still roughly have the same amount of money you started with three years ago, the path certainly wasn't a straight line.

Should you invest $1,000 in SoFi Technologies right now?

Before you buy stock in SoFi Technologies, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SoFi Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $825,513!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.

See the 10 stocks »

*Stock Advisor returns as of December 23, 2024

Matt Frankel has positions in SoFi Technologies. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.