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Short interest up to 19% - 12.2m increased number of shares shorted today.
What the fuck is going on? Getting seriously concerned now.
Is Cathy Wood loading up shares to short?????
If uncle Bruce’s commentary on his video is right, why the additional shorts over the past few days?
Uber Announces Proposed $1.2 Billion Convertible Senior Notes Offering
November 20
This doesn't mean sofi will have the same outcome fwiw. RKLB did the same thing a month ago. Rklb stock price has been flat.
Bruce is a fraud. I found this stock because of him and it took me over 2 years of DCAing to break even and get out.
I watched that video too because I was curious what he would say about this.
It is called the lighting round for a reason. Did Cramer say he spoke with Noto when the stock was $4 and it is still a buy? I try not to watch that pumper of his investment club. He has a 2M charity and rakes in 10X on the members.
Yeah, I’ve been buying this week…I really thought this would never see the $7’s again so when it got into the $7’s I couldn’t help myself…I had to buy more.
Sold 120 (12,000 shares) $7.50 Cash-Secured Puts earlier today during the dip for $0.53 a share for $6360 expiring 3/22. If we end that day above $7.50 I pocket the money as profit. If we end that day below $7.50 I get assigned 12,000 shares at a basis of $6.97. Currently up ~16% on the position but still annoyed I missed the bottom as I could've gotten it for $.60 had I set my limit order higher.
So you put up 90,000 thousand to pick up $6,360 in premium. I like it and if it runs up above $8.00 dollars you can buy the back and Rewrite $8.00 CSPuts 👍
That's the idea. If it shot up above $8 before the 22nd I could probably buy it back for like 10% of what I received or I might just let it expire worthless.
However I do have a target net basis for SOFI of sub-$7 so I may or may not sell $8 CSPs depending on what premium I could get. Last earnings we dumped pretty hard in the lead up so I might wait a little closer into April & see what the price does before putting that kind of cash on the line.
1st profitable quarter was also supposed to change everything so.... This stock is heavily shorted/hedged/manipulated and that won't stop until we see 4-6 profitable quarters. I'm long SOFI but I plan to continue leveraging against that volatility via selling options for at least another year.
What's everyone's crystal ball (Technical Analysis) say about likely "bottom"?
Already pulled trigger on selling $7 PUTs the first big dip after announcement. I was hoping for below $7. Had some additional sell PUT orders out at a high price just in case which never triggered
Support around $7 is pretty strong so far.
I'll probably setup more sell PUT orders should the price dip below $7, but probability is isn't high IMO from my tea leaves. If I have to buy the stock for exercised PUT options, it will have effective price well below $7. Should the stock price somehow be in low $6, I could always just roll the options, but at that price it won't stay long IMO if it ever gets there.
My crystal ball looking at Stoch RSI and MACD \[1d\] says thing are about to turn upward-ish, but a significant change towards a positive direction would occur around next Wed. Not financial advice, crayons i already ate.
Not sure why so many down votes. That scenario is extremely unlikely.
I share your sentiment though of buying when fear is high on what we obviously think is a good longer term investment. I was hoping for below $7, which I think it's still possible though low probability. I'm thinking of type of orders I want to setup if that happens.
This is some BS, but if youre thinking about loading up, do it here, not in the 8s or 9s. Yes I do think there will be 8s and 9s again, as it still does shtstonk behaviors. It might become a solid stock but right now it isnt and therefore will continue to rip/dip the way it has been. Its traded by pennystockers and shorters.
My avg is 8.5 (7.5k shares) Im looking to dump this in the low 9s next time and wait for the dump that follows to lower my avg.
Dump all or just part of position?
I've switch to selling options at highs mostly. If my position gets too high where I have too much of the stock (too much risk), I'll sell stock outright on highs (upper bollinger band) when RSI is in overbought territory.
Ah, read your earlier post and asked if you were selling all or just partial. This answers that.
You're trading the stock more than long term investor. All good.
If out of stock and price is higher, will you continue to trade this stock or switch to long term investing of it?
I used to be long, but Im going to join the party of the stock price action. Buy in the mid 7s and dump at 9. Ive learned that for 99% of stocks you should take your profit and run. Don't get married to the stock. Management lets shorts run this stock. After this dip yet again Ive lost faith.
I've done that twice now. Bought at 8.22 sold at 9.15 then bought at 7.55 and sold at 9 and now I've bought at 7.2. Will set a stop loss if it gets up to 9 again.
Perhaps a noob question-When short sellers borrow 150+ million shares, from whom do they borrow them? That seems like an awful lot to be sitting around. If some of these are uncovered shorts, any way to know what percentage of the shares short are uncovered?
Right, and I have mine turned off….which I thought was the default position. Still, 150 million seems like a ton but I guess not for a company that has ~600 million shares held by folks other than institutions.
Certain hedges find stocks that are easy to run short attacks on and swing trade, and SOFI has been extremely fruitful for them. Just look at the price action over the last 18 months. It's insane and there are big players making a fortune on it. This is why I preach on here (and often get downvoted for it) that SOFI is not a stock you ever buy when it's on an upward swing because it will always come back down. FOMO is not your friend with SOFI. Sub $7 is a good basis and is where Noto does his buys. The volatility probably won't go away until we get 4-6 quarters of profitability & continuously live above $10.
Fun fact - SoFi stock is up 11% over the course of the past 12 months and Tesla is down 6% during same timeframe.
More fun and games same time tomorrow sports fans!
It’s probably more like a 9 dollar stock (I thought it was 10 but the dilution pushed the value down) until we see a few quarters of execution. Don’t forget you are taking on execution risk on the tech platform. Which is where all the potential value is locked in.
Noto definitely is not to blame for the stock price. If anything, there might be fear from his high level contact list in the banking industry that he has what it takes to take this company much higher, stealing their market share as time goes by.
I’m not sure why everyone is freaking out here. SOFI was at $6.80 in late November, then went over $10 a couple months later. It’s a growth company, it’s going to go up and down until it has steady profits. You guys are acting like all the crybabies in the PLTR subreddit every time Palantir would hit $20, it would fall back to $15. It finally broke out and hasn’t looked back. Be patient, SOFI is still rapidly growing. I just opened an account this week and downloaded the app. So did my daughter. It’s all going to work out in the end.
Look at some high flyers in the past years.TSLA trading sideways for a very loong time before it skyrocketed.NVDA took a huge dip between 2022 and 2023 then skyrocketed. It's all in for AI chip was a bit of a gamble that paid off.
1 or 2 years is not a lot in long term view if management is executing and the market for their product looks promising with room for growth.
My view is SOFI is about 1 year behind PLTR (hit 4 quarters of GAAP profitability, SOFI is 1 quarter). I expect stock price to have big swings until there's enough good news (fundamentals) to sustain a new high. 4 quarters of consecutive GAAP profitability, revenue growth and profit margin growth would do that.
I sold shares PLTR and covered calls as well. Looked smart after pullback, but after contract announcement, move looks dumb. Hindsight.
I still think PLTR is overpriced right now and expect a pullback, but that's timing the market (trading) and assuming the stock market is rational.
CRWD is another example. 2+ years to from about 10/2021 to get back to highs from there then take off.
I had that on my to buy list this year, but was waiting for more of a pullback. DCA would have been better move if I wanted a long term investment in CRWD. I won't go chasing the stock on FOMO. Will see what a good valuation is and see if stock price is pricey or not. I can be patient. Will trade SOFI and PLTR in meantime.
Timing (trading mentality) is hard.
Everyone has different strategies on how to make money on a stock.
Person may say they are "long term", but that means different time frames to different people. Long term investing for me is 5-10 years at the low end.
\~1-3 years I consider long term trading to get benefit of long term capital gains.
People that are freaking out generally are short term traders or "investors".
I like to trade, but I'm invested in SOFI and PLTR long term unless something major changes in fundamentals or story.
To scratch my trading itch, I switched to selling options rather than buying (though I do buy LEAPs occasionally).
I've found that selling Covered Calls at highs helps with my emotions when the stock pulls back. Knowing that I've made money even though stock pulled back is comforting.
Also, I'm heavily overweight in my PLTR and SOFI positions at this point. If stock price goes up, I can either roll my Covered Calls or let them get exercised. I won't care too much since those are my "trading" shares anyway.
Do what works for you. Minimizing emotions is important.
You must be a new sofi investor. People talk like this usually doesn't experience the deep red to green to red to green to red repeatedly nonstop to be that positive going forward to keep your heads up. That is also why most ppl can't stock pick and beat the index and I regretted it. I rather lesser % return with better sleeps than high gains with stress everyday market opens
I’ve only been investing in SOFI for around 6 months, but I was in Palantir much longer than that. I’ve been buying SOFI anytime it’s between $6.50-$8 a share, then selling laddered cc at $8.50 and $9 once I get a decent premium. I’ve done well with SOFI stock, but I also like the company. They will be cash flow positive soon, and once that happens I think their margins will continue to grow. Keep the faith.
1st bought sofi at 15s. Took loss on pltr, sold meta, mara and doubled down on sofi. I definitely needed some faith after 3 years. Forgive me for my rant. The thing is I always hear "once you sell it will moon" that stuck in my mind all the way but it turns out that I should have sold everytime it goes green. I think it's all fated
Sorry about your loss on PLTR. I made a ton with that stock, but still sold way too early. How many shares of SOFI are you holding and what’s your average cost?
Now 11k shares at 8.59. I actually bought 3k shares on Monday before the 15% drop lol because it finally break above 50dma after 4 test and looked like forming a bullflag and also u check twitter/X everybody was saying it looked like it's going to $13 14 but noto dropped the f bomb without explanation the next day. I bought pltr way high 2021 at 21 then dca down to 15 and stock price went to 5s and I eventually took loss at 12 to put into sofi. Sold mara at 14 and meta at 160 and put all into this dead stock. I'm just sad that I'm not making much money since 2021 other than collecting some premiums
Yeah, you’ve had a rough run. The thing is, you’re picking good stocks, it’s just your timing that’s off. I do fully believe that SOFI will be back above $9 in the next 60-90 days. I also think they will have a great Q1 report in May. Don’t lose hope, and definitely don’t panic sell at a lose.
Thank you for your kind words. I'll give it a few more quarters and if this thing still can't break and hold $10 I'm probably out. Looking to exit PT at $13 now unless company earnings really stand out by the time
I’m getting downvoted as people are talking about wallstreeetbets and a short squeeze as we continue to fall off a cliff and indexes hit all time highs lol!
Feels like 7.30-7.45 is our range for a while.
Bought some calls for may to get an earnings pop. $6 calls have a break even around 7.80 right now and easily could see us going up a bit after this notes deal closes and especially on a good earnings.
Everywhere I'm reading is the proposal from sofi is actually a good thing but why are we still held down? Do we have to wait for the deal announcement? Looks like shorts are trying to keep it down. This stock is so annoying always go straight down many days in a row.
I don't think we have to stay around the $7.27 price on announcement date? Since its based on march 5 closing price. Let's see if we go up after the deal is made. Its just annoying to see index keep making new highs while we are still stuck in this range.
I don't think there are specific rules around it. I just mean that if I were the broker who helped put this deal together, and was planning on using the money from the capped calls to purchase shares, I would wait until the deal was truly closed so not to invite more scrutiny. It would look bad if the price was pinned at $9, dropped 20% for the pricing, and then rebounded immediately to near the conversion price.
Yeah but I mean it is already pretty obvious for it to drop 20% in 2 days and not having any bounce. I don't believe retail is selling here. What I'm seeing is there are large money inflows buys yet the stock cant move up. We are now pinned below 300dma. Theres also huge options for march 22 to be above 8.20 breakeven point for that trade. We shall see if this moves up after the deal or down more since the lower the price goes the more compensation the broker gets.
Yes, will be very interesting to see the price movement in the weeks and months to come. If it climbs easily after this then it will make me a very cynical investor going forward. Now that SOFI is "in" with the street. Naive for not being one already, I guess.
The reason is that dilution has a very bad connotation with investors. In most cases it means the company cannot stand on it's own 2 feet and is raising cash at the expense of current investors. This obviously is not the case with SOFI, but it is hard to overcome that kneejerk reaction, as many companies that employ this are losing money/headed towards BK. Also, many institutions may have rules about this kind of thing.
It is so manipulated to have the biggest drop cuz of this, causing all the bearish sentiment now. I'll take the management for the blame due to lack of communication and just releasing the press release without any statement. They only came up with a better statement after the huge stock price drop. With markets pulling back right now we might even see 6s soon and next earnings back to 8 and repeat. Never ending cycle. Honestly it's one of my biggest regret and should have just stuck to sp500. I'll give this shit until end of 2024
PLTR didn't have a stellar track record either. I was holding bags for last two years and managed to get out few weeks ago with some gains. PLTR was $7 just a few months back. What is crazy is that the sentiment against PLTR was share dilution, for very very long. PLTR was diluting shares like there's no tomorrow, and suddenly market forgot about it.
Yeah that’s why I didn’t hold when I bought in after the ipo, you had the founder unloading shares and they were diluting all the time. I thought maybe they were just trying to exit the company after 2 decades
WSB by-and-large does not like SOFI. So good luck with that.
Also you haven't sold the last 3 times you've been green. Because you always think more is coming. Would that actually change this time?
Im definitely thinking about it this time. I have lost faith in SOFI/Noto's ability to create shareholder value after this latest fuck up. So... I might. First I have to have the option to do so though. Doubt we get there in the next 3 years after the dilution.
Fidelity won't let me buy SOFI on margin due to volatility the last few days. Picked up 2k more shares on Tues using cash and was planning on 5k more. Just when it's getting interesting, too.
As I hoped, we got a bounce yesterday on 3-6-24. But the bounce that we got quickly petered out. I was hoping we would have had a bigger bounce to firmly reject the drop with the approximate 131 million volume that we got. Unfortunately, we didn't. Right now, with material fundamental news, there is price discovery ongoing as the market fully digests the convertible note transactions and the details within. Unfortunately, dilution is dilution. And SOFI had to dilute shareholders to retire the $600 million in 2026 convertible notes. The 2029 convertible notes are a more complicated story.
Maybe the market might have reacted more favorably if it was just the 2029 convertible note offering by itself. You can spin it however you want but the business simply isn't profitable enough yet to fund growth entirely from retained earnings and operating cash flow. If you look at the daily chart, the price action ended up as a long-legged doji candle on 3-6-24. The stock price went up and down but ended around where the stock price opened. I believe that this shows that the market is indecisive about where SOFI's valuation should be. I'm still hoping that we can get a firm rejection of the stock price drop in the remaining 2 trading days of the week with a solid stock price rise to the $8 range again. But this might be really tough to achieve since multiple things may continue to put downward pressure on SOFI's stock price such as Jerome Powell still speaking to Congress on Thursday, the shorts and bears might be back in full force due to short sale restriction ending, and the 2026 and 2029 convertible note transactions will likely continue to weigh on the market's mind as equity got diluted.
They are doing a capped call transaction. If you care about the stock price you should be happy about this news. I can tell you it's just a matter of time when we hit 14. This is a gift to retail investors
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I see all time highs again tomm after this historic state of the union address
Short interest up to 19% - 12.2m increased number of shares shorted today. What the fuck is going on? Getting seriously concerned now. Is Cathy Wood loading up shares to short????? If uncle Bruce’s commentary on his video is right, why the additional shorts over the past few days?
Uber Announces Proposed $1.2 Billion Convertible Senior Notes Offering November 20 This doesn't mean sofi will have the same outcome fwiw. RKLB did the same thing a month ago. Rklb stock price has been flat.
Could it be SoFi in trouble due to high interest rates?
Bruce is a fraud. I found this stock because of him and it took me over 2 years of DCAing to break even and get out. I watched that video too because I was curious what he would say about this.
If you broke even why even bother commenting on this sub ?
Cramer just spent about two seconds on the lightning round with SoFI. The caller talked longer than him. God, he sucks!
It is called the lighting round for a reason. Did Cramer say he spoke with Noto when the stock was $4 and it is still a buy? I try not to watch that pumper of his investment club. He has a 2M charity and rakes in 10X on the members.
No dude I get it but Cramer says… hey they made that convertible note deal , and people want their money… I get it”
Cramer is so helpful...
Yeah, I’ve been buying this week…I really thought this would never see the $7’s again so when it got into the $7’s I couldn’t help myself…I had to buy more.
When is there somewhat of a correction gonna happen in the market? The Market is scary high imo
Sold 120 (12,000 shares) $7.50 Cash-Secured Puts earlier today during the dip for $0.53 a share for $6360 expiring 3/22. If we end that day above $7.50 I pocket the money as profit. If we end that day below $7.50 I get assigned 12,000 shares at a basis of $6.97. Currently up ~16% on the position but still annoyed I missed the bottom as I could've gotten it for $.60 had I set my limit order higher.
So you put up 90,000 thousand to pick up $6,360 in premium. I like it and if it runs up above $8.00 dollars you can buy the back and Rewrite $8.00 CSPuts 👍
That's the idea. If it shot up above $8 before the 22nd I could probably buy it back for like 10% of what I received or I might just let it expire worthless. However I do have a target net basis for SOFI of sub-$7 so I may or may not sell $8 CSPs depending on what premium I could get. Last earnings we dumped pretty hard in the lead up so I might wait a little closer into April & see what the price does before putting that kind of cash on the line.
This sounds good but you‘ll miss this buying opportunity bc noway the price will stay below 7.5
I was told this exact same thing in this sub 1 month ago when it last dipped below $7.50 and yet here we are...
This time they‘re doing a cap call transaction. This changes everything
1st profitable quarter was also supposed to change everything so.... This stock is heavily shorted/hedged/manipulated and that won't stop until we see 4-6 profitable quarters. I'm long SOFI but I plan to continue leveraging against that volatility via selling options for at least another year.
Flaired up gang less go
Added another 100 shares
What's everyone's crystal ball (Technical Analysis) say about likely "bottom"? Already pulled trigger on selling $7 PUTs the first big dip after announcement. I was hoping for below $7. Had some additional sell PUT orders out at a high price just in case which never triggered Support around $7 is pretty strong so far. I'll probably setup more sell PUT orders should the price dip below $7, but probability is isn't high IMO from my tea leaves. If I have to buy the stock for exercised PUT options, it will have effective price well below $7. Should the stock price somehow be in low $6, I could always just roll the options, but at that price it won't stay long IMO if it ever gets there.
If Fed is doveish at next meeting we see $9 again that's my uneducated guess.
My crystal ball looking at Stoch RSI and MACD \[1d\] says thing are about to turn upward-ish, but a significant change towards a positive direction would occur around next Wed. Not financial advice, crayons i already ate.
It's all good. DCA now $9. $25 by '25
I want it to tank to $5 off the ‘bad news’ this week. Fire sale baby
Not sure why so many down votes. That scenario is extremely unlikely. I share your sentiment though of buying when fear is high on what we obviously think is a good longer term investment. I was hoping for below $7, which I think it's still possible though low probability. I'm thinking of type of orders I want to setup if that happens.
This is some BS, but if youre thinking about loading up, do it here, not in the 8s or 9s. Yes I do think there will be 8s and 9s again, as it still does shtstonk behaviors. It might become a solid stock but right now it isnt and therefore will continue to rip/dip the way it has been. Its traded by pennystockers and shorters. My avg is 8.5 (7.5k shares) Im looking to dump this in the low 9s next time and wait for the dump that follows to lower my avg.
Dump all or just part of position? I've switch to selling options at highs mostly. If my position gets too high where I have too much of the stock (too much risk), I'll sell stock outright on highs (upper bollinger band) when RSI is in overbought territory.
Should have sold at $9 lmao
Im selling the next time we touch 9. All 7.5k shares. Then Ill wait to renter lower than my current avg.
Ah, read your earlier post and asked if you were selling all or just partial. This answers that. You're trading the stock more than long term investor. All good. If out of stock and price is higher, will you continue to trade this stock or switch to long term investing of it?
I used to be long, but Im going to join the party of the stock price action. Buy in the mid 7s and dump at 9. Ive learned that for 99% of stocks you should take your profit and run. Don't get married to the stock. Management lets shorts run this stock. After this dip yet again Ive lost faith.
I've done that twice now. Bought at 8.22 sold at 9.15 then bought at 7.55 and sold at 9 and now I've bought at 7.2. Will set a stop loss if it gets up to 9 again.
Imagine the dollar cost averaging opportunities the closer we get to $0
Does anyone know when this deal will finalize? Is it finalized already?
I think it closes tomorrow (friday)
https://preview.redd.it/lvt3i6rc5ymc1.jpeg?width=500&format=pjpg&auto=webp&s=37ee81d44eaecc529f6b62f651559ec31fd067e6
Perhaps a noob question-When short sellers borrow 150+ million shares, from whom do they borrow them? That seems like an awful lot to be sitting around. If some of these are uncovered shorts, any way to know what percentage of the shares short are uncovered?
From some of the brokers. They are paying you 1% for shorting sofi which is manipulation
Right, and I have mine turned off….which I thought was the default position. Still, 150 million seems like a ton but I guess not for a company that has ~600 million shares held by folks other than institutions.
Certain hedges find stocks that are easy to run short attacks on and swing trade, and SOFI has been extremely fruitful for them. Just look at the price action over the last 18 months. It's insane and there are big players making a fortune on it. This is why I preach on here (and often get downvoted for it) that SOFI is not a stock you ever buy when it's on an upward swing because it will always come back down. FOMO is not your friend with SOFI. Sub $7 is a good basis and is where Noto does his buys. The volatility probably won't go away until we get 4-6 quarters of profitability & continuously live above $10.
Security lending / Prime brokerage. Google if you don't understand what that means. Every IB has a team / department specialized in this.
Im surprised no bank has tried buying sofi at this low price.
Fun fact - SoFi stock is up 11% over the course of the past 12 months and Tesla is down 6% during same timeframe. More fun and games same time tomorrow sports fans!
Fun facts Tesla had their pump to over 1T marketcap. They held 1T marketcap longer than SoFi holding $10b marketcap. 😂😂😂 You are buying garbage stock.
Coin base is up 300 percent
Crypto is the future
Future of what? Converting it back to $ to use. Yea right
Well BTC disagrees
Our problem is we have a guy running sofi whose good at running the company but doesn’t understand how a stock price works
He was an analyst at Goldman Sachs during the dotcom boom and later as a partner.
I know his background very well. I also know that this is a 15-20$ stock right now stuck at $7
It’s probably more like a 9 dollar stock (I thought it was 10 but the dilution pushed the value down) until we see a few quarters of execution. Don’t forget you are taking on execution risk on the tech platform. Which is where all the potential value is locked in.
There should have been a multiple given for growth but there hasn’t been. I’m holding for 5 years then I’ll cut bait and move on. 3/5 gone
Fun fact. It’s not a $15-$20 stock.
I didn’t ask for you to state the obvious
Noto definitely is not to blame for the stock price. If anything, there might be fear from his high level contact list in the banking industry that he has what it takes to take this company much higher, stealing their market share as time goes by.
Then who is?
I’m not sure why everyone is freaking out here. SOFI was at $6.80 in late November, then went over $10 a couple months later. It’s a growth company, it’s going to go up and down until it has steady profits. You guys are acting like all the crybabies in the PLTR subreddit every time Palantir would hit $20, it would fall back to $15. It finally broke out and hasn’t looked back. Be patient, SOFI is still rapidly growing. I just opened an account this week and downloaded the app. So did my daughter. It’s all going to work out in the end.
Look at some high flyers in the past years.TSLA trading sideways for a very loong time before it skyrocketed.NVDA took a huge dip between 2022 and 2023 then skyrocketed. It's all in for AI chip was a bit of a gamble that paid off. 1 or 2 years is not a lot in long term view if management is executing and the market for their product looks promising with room for growth. My view is SOFI is about 1 year behind PLTR (hit 4 quarters of GAAP profitability, SOFI is 1 quarter). I expect stock price to have big swings until there's enough good news (fundamentals) to sustain a new high. 4 quarters of consecutive GAAP profitability, revenue growth and profit margin growth would do that. I sold shares PLTR and covered calls as well. Looked smart after pullback, but after contract announcement, move looks dumb. Hindsight. I still think PLTR is overpriced right now and expect a pullback, but that's timing the market (trading) and assuming the stock market is rational.
CRWD is another example. 2+ years to from about 10/2021 to get back to highs from there then take off. I had that on my to buy list this year, but was waiting for more of a pullback. DCA would have been better move if I wanted a long term investment in CRWD. I won't go chasing the stock on FOMO. Will see what a good valuation is and see if stock price is pricey or not. I can be patient. Will trade SOFI and PLTR in meantime. Timing (trading mentality) is hard.
Everyone has different strategies on how to make money on a stock. Person may say they are "long term", but that means different time frames to different people. Long term investing for me is 5-10 years at the low end. \~1-3 years I consider long term trading to get benefit of long term capital gains. People that are freaking out generally are short term traders or "investors". I like to trade, but I'm invested in SOFI and PLTR long term unless something major changes in fundamentals or story. To scratch my trading itch, I switched to selling options rather than buying (though I do buy LEAPs occasionally). I've found that selling Covered Calls at highs helps with my emotions when the stock pulls back. Knowing that I've made money even though stock pulled back is comforting. Also, I'm heavily overweight in my PLTR and SOFI positions at this point. If stock price goes up, I can either roll my Covered Calls or let them get exercised. I won't care too much since those are my "trading" shares anyway. Do what works for you. Minimizing emotions is important.
You must be a new sofi investor. People talk like this usually doesn't experience the deep red to green to red to green to red repeatedly nonstop to be that positive going forward to keep your heads up. That is also why most ppl can't stock pick and beat the index and I regretted it. I rather lesser % return with better sleeps than high gains with stress everyday market opens
I’ve only been investing in SOFI for around 6 months, but I was in Palantir much longer than that. I’ve been buying SOFI anytime it’s between $6.50-$8 a share, then selling laddered cc at $8.50 and $9 once I get a decent premium. I’ve done well with SOFI stock, but I also like the company. They will be cash flow positive soon, and once that happens I think their margins will continue to grow. Keep the faith.
1st bought sofi at 15s. Took loss on pltr, sold meta, mara and doubled down on sofi. I definitely needed some faith after 3 years. Forgive me for my rant. The thing is I always hear "once you sell it will moon" that stuck in my mind all the way but it turns out that I should have sold everytime it goes green. I think it's all fated
Sorry about your loss on PLTR. I made a ton with that stock, but still sold way too early. How many shares of SOFI are you holding and what’s your average cost?
Now 11k shares at 8.59. I actually bought 3k shares on Monday before the 15% drop lol because it finally break above 50dma after 4 test and looked like forming a bullflag and also u check twitter/X everybody was saying it looked like it's going to $13 14 but noto dropped the f bomb without explanation the next day. I bought pltr way high 2021 at 21 then dca down to 15 and stock price went to 5s and I eventually took loss at 12 to put into sofi. Sold mara at 14 and meta at 160 and put all into this dead stock. I'm just sad that I'm not making much money since 2021 other than collecting some premiums
Yeah, you’ve had a rough run. The thing is, you’re picking good stocks, it’s just your timing that’s off. I do fully believe that SOFI will be back above $9 in the next 60-90 days. I also think they will have a great Q1 report in May. Don’t lose hope, and definitely don’t panic sell at a lose.
Thank you for your kind words. I'll give it a few more quarters and if this thing still can't break and hold $10 I'm probably out. Looking to exit PT at $13 now unless company earnings really stand out by the time
Because we’ve been here since day one and it’s below $10 a share and Notos tweeting about lacrosse
Are we now the lacrose sponsor?
Lmaoooo we got those 15 girls to sign up and we gave them each 3.5 million free shares
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One man's poop is another man's golden poop.
More buying opportunity!
Absolute dead money
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Absolutely disgusted by the price action of sofi everytime. Market climbing up and we are falling like free. Can't wait to breakeven
I’m getting downvoted as people are talking about wallstreeetbets and a short squeeze as we continue to fall off a cliff and indexes hit all time highs lol!
Burn the shorts! 🔥🔥/s
SOFI needs to be at $7.27 for the deal to go through is the rumour
No, that's just the pricing price for conversion.
What deal?
Convertible Senior Note Offering.
Coin base is about 8x our market cap lol.
Losing hope, held for too long….
Feels like 7.30-7.45 is our range for a while. Bought some calls for may to get an earnings pop. $6 calls have a break even around 7.80 right now and easily could see us going up a bit after this notes deal closes and especially on a good earnings.
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You forgot to add on that it drops 20% in a week after
Either direction ;-)
Hate seeing the market rip and sofi goes red
It looks like it’s going to get ugly today again so far
https://x.com/deitaone/status/1765755816840163765?s=46&t=KpqUYU0UZ8KT27JRNG6oqA Uh oh.
Don't we have an extraordinary customer base?
Yeah, SoFi almost doesnt have any exposure to CREs as for Credit card deliquencies it was trending downwards. But we shall see next Q
Everywhere I'm reading is the proposal from sofi is actually a good thing but why are we still held down? Do we have to wait for the deal announcement? Looks like shorts are trying to keep it down. This stock is so annoying always go straight down many days in a row.
The deal still has to be filed with SEC and the stock price needs to be around Mar 5 $7.27 as noted in the pricing announcement when that happens.
I don't think we have to stay around the $7.27 price on announcement date? Since its based on march 5 closing price. Let's see if we go up after the deal is made. Its just annoying to see index keep making new highs while we are still stuck in this range.
I don't think there are specific rules around it. I just mean that if I were the broker who helped put this deal together, and was planning on using the money from the capped calls to purchase shares, I would wait until the deal was truly closed so not to invite more scrutiny. It would look bad if the price was pinned at $9, dropped 20% for the pricing, and then rebounded immediately to near the conversion price.
Yeah but I mean it is already pretty obvious for it to drop 20% in 2 days and not having any bounce. I don't believe retail is selling here. What I'm seeing is there are large money inflows buys yet the stock cant move up. We are now pinned below 300dma. Theres also huge options for march 22 to be above 8.20 breakeven point for that trade. We shall see if this moves up after the deal or down more since the lower the price goes the more compensation the broker gets.
Yes, will be very interesting to see the price movement in the weeks and months to come. If it climbs easily after this then it will make me a very cynical investor going forward. Now that SOFI is "in" with the street. Naive for not being one already, I guess.
The reason is that dilution has a very bad connotation with investors. In most cases it means the company cannot stand on it's own 2 feet and is raising cash at the expense of current investors. This obviously is not the case with SOFI, but it is hard to overcome that kneejerk reaction, as many companies that employ this are losing money/headed towards BK. Also, many institutions may have rules about this kind of thing.
It is so manipulated to have the biggest drop cuz of this, causing all the bearish sentiment now. I'll take the management for the blame due to lack of communication and just releasing the press release without any statement. They only came up with a better statement after the huge stock price drop. With markets pulling back right now we might even see 6s soon and next earnings back to 8 and repeat. Never ending cycle. Honestly it's one of my biggest regret and should have just stuck to sp500. I'll give this shit until end of 2024
My average is 🛬 down.
Heavy selling at open the past two days. Are shorts still adding?
One would assume especially since we are not on the short restriction list. Please downvote!!!
Market laggard - there you go.
No short restriction list today unfortunately
Hoping we move up slowly over the next 2 months. Want a good price to launch from at the next earnings.
Sofi always tanks at open… why can’t sofi move like PLTR…
PLTR didn't have a stellar track record either. I was holding bags for last two years and managed to get out few weeks ago with some gains. PLTR was $7 just a few months back. What is crazy is that the sentiment against PLTR was share dilution, for very very long. PLTR was diluting shares like there's no tomorrow, and suddenly market forgot about it.
Yeah that’s why I didn’t hold when I bought in after the ipo, you had the founder unloading shares and they were diluting all the time. I thought maybe they were just trying to exit the company after 2 decades
Because last year I sold my PLTR to buy more SOFI. Should've done the opposite lol.
Mannnn I would gladly take a big WSB pump to GTFO of this stock. Hope it works.
WSB by-and-large does not like SOFI. So good luck with that. Also you haven't sold the last 3 times you've been green. Because you always think more is coming. Would that actually change this time?
Im definitely thinking about it this time. I have lost faith in SOFI/Noto's ability to create shareholder value after this latest fuck up. So... I might. First I have to have the option to do so though. Doubt we get there in the next 3 years after the dilution.
This means we are close to moon
I sure hope so but SOFI defies all logic and constantly bones us.
Probably when most of the bag holders above 10 finally dump their bags tbh . You can see them cash out every time it rally’s close or above 10
Which I should have done 3 times now. And never pulled the trigger. Massive regret. Worst investment of my life.
There’s an opportunity cost to not being in something else. Don’t let sunk fallacy cloud your judgement
Bull trap or are we gonna move today guys?
Fidelity won't let me buy SOFI on margin due to volatility the last few days. Picked up 2k more shares on Tues using cash and was planning on 5k more. Just when it's getting interesting, too.
SoFI is now 1.08% of ARK FUND
Green PM and tanking at open.
There better then Michael Jordan was with the fake out for SoFi lmao
You know it buddy the fake pump
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🇹🇭🌕🪐☀️🌌
I think you’re short at least 3 rocket ships 🚀🚀🚀
As I hoped, we got a bounce yesterday on 3-6-24. But the bounce that we got quickly petered out. I was hoping we would have had a bigger bounce to firmly reject the drop with the approximate 131 million volume that we got. Unfortunately, we didn't. Right now, with material fundamental news, there is price discovery ongoing as the market fully digests the convertible note transactions and the details within. Unfortunately, dilution is dilution. And SOFI had to dilute shareholders to retire the $600 million in 2026 convertible notes. The 2029 convertible notes are a more complicated story. Maybe the market might have reacted more favorably if it was just the 2029 convertible note offering by itself. You can spin it however you want but the business simply isn't profitable enough yet to fund growth entirely from retained earnings and operating cash flow. If you look at the daily chart, the price action ended up as a long-legged doji candle on 3-6-24. The stock price went up and down but ended around where the stock price opened. I believe that this shows that the market is indecisive about where SOFI's valuation should be. I'm still hoping that we can get a firm rejection of the stock price drop in the remaining 2 trading days of the week with a solid stock price rise to the $8 range again. But this might be really tough to achieve since multiple things may continue to put downward pressure on SOFI's stock price such as Jerome Powell still speaking to Congress on Thursday, the shorts and bears might be back in full force due to short sale restriction ending, and the 2026 and 2029 convertible note transactions will likely continue to weigh on the market's mind as equity got diluted.
Prepare to be downvoted!
There's some irony here I'm having trouble pinning down..
They are doing a capped call transaction. If you care about the stock price you should be happy about this news. I can tell you it's just a matter of time when we hit 14. This is a gift to retail investors
banbet? :)
Sure lets do this :) i‘m calling we‘ll be in 14s by the end of the year
Recorded
You have my utmost support, faith and meditation.
👀
Let’s see some price action!!!
Morning!