Shay Boloor Urges SOFI’s Inclusion In S&P 500 Index After Super Micro's Smuggling Misadventure

• Boloor criticized the S&P 500 Committee for adding SMCI to the index, which saw a dramatic drop of approximately 80% since the addition. 
• Super Micro Computer’s officials were accused of unlawfully redirecting advanced U.S. AI servers to China in breach of export control regulations.
• SoFi is the first nationally chartered bank to offer crypto trading to customers.

Shay Boloor, chief market strategist at Futrum Equities, on Friday weighed in on the recent S&P 500 index additions, highlighting what he sees as a misstep involving Super Micro Computer Inc. (SMCI) and recommending a potential replacement with SoFi Technologies Inc. (SOFI).

In a post on X, Boloor criticized the S&P 500 Committee for adding SMCI to the index.

Boloor’s comments come as the Justice Department unsealed charges against Super Micro Computer officials accused of unlawfully redirecting advanced U.S. AI servers to China in breach of export control regulations. Super Micro Computer joined the S&P 500 index in March 2024. 

SoFi Positioned For Growth

Boloor suggested the committee could swap SMCI for SoFi Technologies, a fintech company boasting a banking license, 13.7 million members, and a projected compound annual growth rate (CAGR) of at least 30% through 2028.

SoFi is the first nationally chartered bank to offer crypto trading to customers, and it has also introduced its own stablecoin, SoFiUSD.

SoFi Technologies' stock edged 0.1% higher on Friday. On Stockwits, retail sentiment around the stock remained in ‘bullish’ territory amid ‘high’ message volume levels. 

A bullish Stocktwits user called the stock “retail favourite”. 

Another user highlighted the stock’s strength versus the overall market on Friday.

SoFi CEO Increases Stake Following Short Seller Call

On Tuesday, SoFi’s filing showed that CEO Anthony Noto purchased 28,900 shares at a weighted average price of about $17 per share. Following the transaction, Noto owned 11.7 million shares of the company.

However, Muddy Waters Research disclosed a short position in SoFi, alleging the fintech company understated its liabilities by at least $312 million in unreported debt.

SOFI stock has declined by over 34% year-to-date. 

Also See: SLS Stock In Focus As Alliance Global Sees 92% Upside Following AML Trial Updates

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