In this week’s episode of Hypergrowth Investing, we kick off with one of our favorites SoFi (SOFI) stock!

SoFi CEO Anthony Noto recently purchased $5 million worth of SOFI stock and then added another $2.4 million. Insider buying is a valuable metric when looking at a company, and Noto’s large purchases are a clear indication of his confidence in the company. Why is he so bullish? And more importantly, should we be following in his footsteps and buying big for 2023?

Noto has been buying SOFI stock all year long, but these are his biggest purchases by far. And they represent massive votes of confidence in the company. This is someone you want to listen to. Not only is Noto highly experienced on Wall Street, having served as CFO of Twitter and the NFL, but SOFI has also demonstrated strong growth under his leadership, with revenues increasing by 50% every quarter. So, in our opinion, his bullishness holds even more weight than a “regular” CEO’s would. 

It’s no surprise that we love SOFI stock. The company has been steadily growing revenues at a 50% clip every single quarter while mature firms like Bank of America (BAC) and Wells Fargo (WFC) are not. Additionally, SOFI’s valuation is lower compared to those incumbent firms, making it an attractive investment. What’s more, with several potential catalysts on the horizon, such as the end of the student loan moratorium, SoFi could be looking at outsized growth.

Overall, Noto’s purchases and SOFI’s strong performance make it a worthwhile investment for 2023. It could soar when interest rates turn around, when the economy stabilizes, when the student loan moratorium ends. There are so many dormant catalysts here that could make this stock rocket. It’s no wonder that the CEO is piling in. And we’d be buyers, too.

Our Favorite EV Stock for 2023

But SOFI isn’t the only stock we’re bullish on right now – certain EV stocks have had our attention for a while. Lucid (LCID) and Rivian (RIVN) come up quite often, but do we have an absolute favorite for the next 12 months? We do. (Watch the video to find out which stock we’re talking about!

We really believe that affordable electric vehicles will sell the best in 2023. The only uncertainty for us here is whether the company will be able to hit its production targets next year. If it does, this EV stock will sell tens of thousands of EVs per quarter by the end of 2023. And that simply isn’t reflected in its current stock price. We think the stock can more than double in 2023.

The Solar Industry Is on Fire

Something else we’ve been bullish on all year? Solar stocks. And lately, we’ve only gotten more bullish. The fundamental momentum in the solar industry is incredibly robust right now. For example, last week, McDonald’s (MCD) signed a major deal to buy 190 megawatts of solar power to essentially power its entire U.S. supply chain. This means that the biggest restaurant chain operator in America is going all-in on solar for its entire operations. Not to mention, Meta (META) – one of the world’s biggest companies – also signed a similar agreement to power its data center in the Southeastern U.S. Everywhere you look, there are positive news developments and really positive earnings from these companies in the solar industry. This underscores the stunning momentum the sector is feeling. We think it will only accelerate in 2023. 

This year, the world faces an energy crisis. We came to a fork in the road and had to make a choice: try to make oil and gas work, or embrace clean energy technology to power our world. All major governments around the world passed landmark legislation to accelerate the clean energy transition. Don’t fight that trend. It will only get stronger from here.

On the date of publication, Seth Kuczinski did not have (either directly or indirectly) any positions in the securities mentioned in this article.