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How to buy SoFi stock when it goes public

Here's everything we know so far about the SoFi IPO.

San Francisco-based digital lending company SoFi could go public via a merger with a special purpose acquisition corporation (SPAC). SPACs are companies with no commercial operations that exist purely to raise capital through IPOs.

No date has been announced yet, but sources close to the deal say it's slated for release in 2021.

The SPAC, Social Capital Hedosophia Corporation V, which is backed by venture capitalist Chamath Palihapitiya, originally went public in October 2020 when it raised $800 million in its IPO.

SoFi was valued at $4.8 billion in 2019. The SPAC merger would value SoFi at $6 billion.

What we know about the SoFi IPO

Digital lender SoFi may be going public through a special purpose acquisition corporation, sources familiar with the potential deal have reported. The company is reportedly in talks to merge with Social Capital Hedosophia Corporation V, but no set date has been announced for the merger.

In the interim, interested investors can back Social Capital Hedosophia V, which trades under the ticker symbol IPOE on the New York Stock Exchange.

How to buy shares in SoFi when it goes public

Once SoFi goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

  1. Compare share trading platforms. Use our comparison table to help you find a platform that fits you.
  2. Open your brokerage account. Complete an application with your details.
  3. Confirm your payment details. Fund your account.
  4. Research the stock. Find the stock by name or ticker symbol – – and research it before deciding if it's a good investment for you.
  5. Purchase now or later. Buy your desired number of shares with a market order or use a limit order to delay your purchase until the stock reaches a desired price.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like SoFi can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

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The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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