Most notably, the company introduced tokenized stocks, which are essentially blockchain-based equity derivatives allowing the trading of over 200 U.S. stocks

Those upcoming catalysts already brought back a lot of bulls, and SoFi's stock nearly tripled over the past 12 months. But with an enterprise value of $19.3 billion, it still looks more reasonably valued than Robinhood at 6 times this year's sales and 22 times its adjusted EBITDA.

Robinhood's stock tokenization strategy opens up strong revenue potential but faces medium- to long-term regulatory inhibitions and resistance. See why HOOD is a Hold