5 Robinhood Stocks with High Potential

In this article we will list the 5 Robinhood Stocks with High Potential. Please visit 10 Robinhood Stocks with High Potential if you’d like to see an extended list and how we came up with the list of best value stocks.

5. SoFi Technologies, Inc. (NASDAQ:SOFI)

Number of Hedge Fund Holders: 56

Stock Upside Potential: 47.98%

SoFi Technologies Inc. (NASDAQ:SOFI) is one of the top Robinhood stocks with high potential. On March 17, SoFi Technologies Inc. (NASDAQ:SOFI) announced it was considering legal action against short seller Muddy Waters Research.

The legal action is in response to the short seller confirming a short position in the stock, alleging a material misstatement of at least $312 million in unrecorded debt. The short seller stated that there is a possibility of more extensive misstatements yet to be detected. It further said that SoFi Technologies Inc. (NASDAQ:SOFI) is a financial engineering treadmill and not a healthy, growing origination business.

Source: Pexels

Muddy Waters has also accused the company of pursuing loans and off-balance-sheet structures that disguise borrowings as revenue, a move that has led to stock dilution. It also alleges that the $1.054 EBITDA delivered appears inflated by $950 million through manipulated charge-off rates, seller-financed sales, and unrecorded borrowings.

SoFi Technologies has refuted all the allegations, calling them factually inaccurate and misleading.

“We have reviewed the full report and believe it is designed ​to deceive ​investors. SoFi maintains strong confidence in the integrity of our financial ​reporting,” the fintech said.

SoFi Technologies, Inc. (NASDAQ:SOFI) is a digital financial services company and bank that serves as a “one-stop shop” for managing money. It provides lending (student, personal, and home loans), banking services (checking and savings), and investing tools, alongside technology platforms (Galileo and Technisys).