Retail investing has boomed since the market bottom in March, and online stock trading and investing apps have been a main beneficiary as younger Americans from the millennial and Gen Z generations pour money into stocks that reflect their world and view of the future.
Anthony Noto, CEO of SoFi, says his firm is among those that have quickly grown investment accounts as the stay-at-home environment caused by the coronavirus resulted in a broader migration to digital financial services. Within investing specifically, SoFi has seen a 250% increase in new accounts since the beginning of the year.
As a result of all that market action and interest on mobile, SoFi is launching new social following features within its SoFi Invest service so its members can follow stock portfolios of family, friends and peers, and see what their personal network is buying and selling. The new tools will also include a