No doubt this Nov. 1st is a rough ride for SoFi but can't deny that its' ER showed outstanding performance with a Triple beat on Earnings, Revenue, and Guidance. Its' stock price managed to gain 5.33% with a huge volume of 158,439,297. Many people expected more gain but we are in an environment with low general market volume and most of the buyers are looking for profitable companies. SoFi will probably achieve profitability by 2023, which is much sooner than most analyst estimation of 2024. There are also the shorts, swing traders, and computer algorithms that SoFi Stock has to deal with.
SoFi, the company is not directly related to the stock performance and the company is doing things right by being the most diverse Fintech Bank. It evolves and adapts to the ever-changing market and manages to prevail despite the student loan moratorium. The company has transformed into an All-in-one shop that adapted and is thriving in any financial environment.
IMO, this is the rare opportunity to grab such explosive potential stock at such a great price. SoFi stock should achieve a parabolic pattern and the Long Sofi holders will witness and be rewarded. When this pattern will occur is impossible to precisely predict as no one has a crystal ball.
SoFi has reached a higher landmark with this ER and the Fed may propel Sofi into a substantially higher base by the end of this week if hints of a softer landing with the expected 0.75% hike and a dial-down tone of a likely subsequent 0.50% hike.
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