The California based fintech startup SoFi is turning out to be a key player in lending, trading and banking industries. The company has recently launched two new ETF’s, the SoFi Gig Economy ETF (NASDAQ: GIGE) and the SoFi 50 ETF (NYSE: SFYF).
In Crammers Fast Money show, the SoFi CEO Anthony reveals why they launched these two ETF’s and how they are perfect for young investors.
In an interview with Crammer, the CEO claimed young investors always like to invest in stocks with a price of less than $10. He says young investor’s likes to invest in big companies with strong brand recognition. This is because they want to reduce the threat of loss. Ford and General Electric are two examples of those stocks.
The CEO stated: “They’re focused on investing in things that they’re contributing to and things that they know, like these gig economy companies, but they’re also investing in things that they basically don’t use but are at a price point that allows them to get into the market and learn. So we launched two ETFs that give them broad-based diversification.”
Anthony predicts that investors born around 1980 to 1990 also prefer to invest in companies with strong growth potential. This strategy helps them to make healthy money in a short time.
To cover the needs of young investors, SoFi recently launched two ETF’s. The SoFi Gig Economy ETF, which tracks stocks of gig-oriented companies trading on the Nasdaq Composite. The other is SoFi 50 ETF, which tracks the performance of 50 of the top 1,000 high-growth U.S. companies trading on the New York Stock Exchange.
SoFi, on the other hand, also offers automated trading service to investors – who seek to take advantage of the algorithm based trading techniques. In addition, SoFi is famous for providing free trading platform to investors. Traders can trade stocks and ETF’s through this platform without paying any fee or commission.