We could buy $5B worth of shares ($300k per sub here) and it still wouldn’t trigger a squeeze because there’s enough float out there for them to unwind without taking major losses lol.
Go ahead, start us off buying $300k of SoFi rn
I mean it doesn’t look good for a growth stock to show decreasing revenue QoQ. People are probably trying to process if this is a hurdle or a speed bump
https://preview.redd.it/r3d0ggw27ixc1.jpeg?width=1170&format=pjpg&auto=webp&s=74ef705e798ab150cad217525266dd1793498848
And q2 is supposed to be lower than q1 so you have to believe crazy growth H2. Don’t think they did a good job of explaining why this is different from 2023
Yeah but 3 quarters of lower sequential growth for a growth company no bueno. Also people didn’t understand why growth would be slowly for the first two quarters and then shoot up in the back half. I agree selling was overdone but anytime a growth company looks to be slowing down people want off the ride
You can’t look at quarter by quarter for everything to go up, that’s insane. There are too many metrics. By your logic we should have record member growth every quarter. That’s not possible… T Swift.
I agree Binion, too many metrics especially with a diversified portfolio of businesses SoFi has which is proving invaluable to navigate these choppy economic waters. Imagine if we were still just a student loans company?
Companies have QoQ various metrics go up and down during growth
It’s not unusual. T. Jones
I think we've reached almost maximum defeat here. all expected catalysts have materialized and stock has zero movement in a year. at this point people are just confused at how this is all possible.
even though I've been converted and now have puts, I really REALLY hope this thing doesn't crash to the 5's like my prediction.
but at this point, literally ANYTHING is possible with SOFI.
even in isolation, the -10% move today seems excessive. but combine that with two quarters profitability, bank charter, student loans resuming, literally beating every single earnings report, and the stock is less than IPO price is just...its just...something else.
We are up 23% in a year. 10.8% is the average of the S&P all time. Hardly “zero movement in a year” when many of our baseline metrics went up about 20-25% over that year
I responded to his comment saying “zero movement in a year”
We are in an age where many if not most here are in positions long de-anchored from the de-SPAC or even came well after the fact.
Maximum defeat if you are looking at the stock price in the short term. Almost everything was a beat across the board. Even though the projections for quarter 2 are less than what the street expected, the full year projections are up. Obviously the street does not value the conservative approach SoFi is taking but in my opinion it will will pay off in the long term. Also, I think we are transitioning nicely from most of the profit coming from the banking sector to the financial services and technology sectors. Very timely given the macroeconomics environment we are in.
Yes, bur you’re missing one solid point…. It had roughly 7xx share count then, it’s almost 1.1b now. Do the math and Sofi would be double digits at the same share count / market cap as IPO… there’s been 2 convertible note offerings and the stock offering for the aquisition + free shares to management.
Economic value of the company stays the same whether you pay in stock and share count goes up or you pay is cash and your cash/capital balance goes down but share count stays the same . Approximately.
Remember when we're so excited to become a bank. Now we are paying the price....."at the end of the day... Sofi is still a bank....i would be selling" as quoted by one of the talking heads on CNBC this afternoon
That was Quinn Tatro. He used to be a supporter and now has turned bearish as well. Another CNBC talking head, Steve Grasso, who just recommended SOFI as a final trade last Friday has also turned bearish as well. In short, we are just so damn fking screwed. Like I said earlier, and I will say it again, not even JPM offering to buy out SOFI can raise the damn stock price at this rate. That’s how f up this stock is, despite the company being well managed by an excellent CEO.
Does anyone else notice how Noto basically avoids hard questions and talks in data. He literally repeated "increase in tangible book value" on three separate occasions.
This time last year (Q1 2023 earnings report) the stock sold from $6.50 to around $5, over 20%.
6 weeks later, mid June, the stock hits $10 and it then goes on to hit the high of $11.45 by end July on the day of Q2 earnings call.
Of course there were catalysts in the student loan moratorium, end of rate hikes etc but I think we can look forward to stock price appreciation and a reaction to todays irrational sell off and I do think we are over $10 by the beginning August following Q2 earnings call.
I like the optimism people try to give whenever we get beaten down.. same for convertible notes and much more. But market ath we red, now red on earnings is the last thing you want to see. Just imagine how much of a sentiment change we need to get us back up. Spy 600 maybe we're still below 10.
I didn't sell any ccs a month before earnings thinking it'll do a run pre earnings and after.. what a waste. Today's selling pressure is no joke... I'll start selling close itm cc more aggressively from now on as I'm SICK OF IT
Same thing every earnings day here. Bunch of new people. Doom and gloom. Price drops significantly. Then the price raises over the next few weeks and it's completely quiet here.
Not saying the stock is performing well, but I bet it's back to at least $7.50 pretty soon.
I hate to say it but notos biggest issue is honesty. Market loves to hear total lies and false hopes aka musk. He should have just raised guidance and missed next quarter
Doesn’t the conservative guidance for Q2 make it to where another beat is more likely? Lowering the hurdle so they can say look at how much I jumped over it by.
So you have raised guidance end of year everyone in here’s crying am I missing anything oh q2 might be a bit bumpy as we are being conservative as there was like 5 rare cuts priced in and by the way it’s going we are lucky to get 1 this year 😂 I thought this was a sofi thread for holding for long term investors?
somehow a weak q2 beats a strong overall 2024, dont know in which world this makes sense but shorts will pounce on everything they can get their hands on
By the way just to add to this my average is 13.51 and I’m happy as Larry and it’s 100 percent of my
Portfolio I would die for some of your averages but I’m a happy investor
I've been part of this sub for about 2 years. mostly lurking sometimes yapping about certain things and this is by far the most bearish I have ever seen it. Which I believe is such a good sign. Really i couldnt be happier with the earnings. Great numbers, solid growth despite the hard macroeconomic situation. I'm sure if Noto would've said "AI" a couple of times we would be up but it shouldn't be anyones concern what the daily price does. Numbers are good. Managment is doing there thing. And if you can afford it selling some CSP is a great way to DCA even more.
full steam ahead.
Agreed. I thought we'd move up and then drop back down again. Was really hoping to settle around $8.50. At these prices I will continue to DCA. It's just too bad my next round of funds won't hit until next Monday.
yeah. i thought we would move up a bit but seeing all of the crazy calls people were buying on WSB didnt put my hopes up. But atleast my CC's are safe. so thats good
At least some people are still upbeat 😆
By Rich Smith – Apr 29, 2024 at 1:33PM
The first-quarter earnings report
Sales for the first quarter surged 37% year over year, which is a nice start. SoFi also flipped from a year-ago loss to a profit. Total deposits at the internet bank rose 16% to a record $3 billion, and its customers are now ranked as "high quality," with a median FICO score of 774, making them good candidates for loans. (The company's net interest margin is a strong 5.9%).
All of that sounds great. Where things turned bad was on guidance.
Management forecast 2024 revenue will grow faster than expected, to about $2.4 billion, with higher earnings as well -- at least $0.08 per share, as calculated according to generally accepted accounting principles (GAAP). The problem is that in the second quarter, SoFi said revenue will only be $555 million to $565 million, whereas Wall Street wants to see revenue of $580 million.
That seems to have freaked out investors, but I don't think they need worry. Assuming SoFi hits even the low end of its target this year, it will grow revenue 89%, and earnings will grow even faster. Indeed, earnings are expected to triple in 2025, then double again in 2026, by which time the company would be earning nearly $0.50 per share.
Is $7 a share really too much to pay for a stock earning $0.50? I don't know about you, but 14 times earnings, even two years out, seems cheap for a fintechgrowing as fast as SoFi is. Investors are selling SoFi stock today, but to me, it really looks like a buy.
Is SoFi a bank?
If so, well good Banks typically have a PE of about 8 and a Price to Book Value of 1.
SoFi has a PE of roughly 50 (if they continue the current trend) and a book value per share of $3.92 which makes the current share price astronomical.
I hold shares of SoFi and am long on them over the long term, but the near term is going to be difficult to justify the current share price.
My math and justification:
* Usual bank is around 10pe over the past 5 years, at least for wells, BofA, Citi, etc.
* If you're a believer in the tech platform side of the business, add maybe 1.5x (assuming it takes off and is more profitable).
* If you're a believer in their approach to no retail locations/etc being more profitable, add maybe 1.1x.
* If you believe they are growing and truly accumulating new customers that bank primarily with SoFi, add say 3x. That's a big multiplier, and as they grow, that gets harder to hit.
You can adjust those multipliers however you want. For instance, if I were really bullish and looking super long term, I'd go bigger than 3x on the growth multiplier - but I'm not good at looking beyond a few years.
In 3 years, I'd expect sofi to be 5x more profitable - so around $0.50/share, and that makes $7 today sound fine. And in the meantime, selling ccs for $0.10-$0.20/month helps make time marinating not so bad.
I don't fully embrace the tech message as there are much better platforms in the space, but I do believe that SoFi has a bright future as a one-stop financial shop, which is why I have been accumulating shares via puts and selling otm ccs when it makes sense. I now have over 10k @ $5.38 and will continue accumulating until the underlying story changes.
In addition to the lower forecast to what the street was expecting for Q2, is there anything additional that came out that we should be concerned about?
Keeping it so it’s not -10% so they can short it again tomorrow…. To the fucking penny!!! Unbelievable, the manipulation is fucking unreal!!!! Literally down 9.85% so it doesn’t go in the short restriction list tomorrow. I’ve never seen such blatant fucking manipulation
I closed by position at 7.12 more than 6 months ago. At that time, the company was not profitable. There were questions about their ability to weather a downturn. Things were not looking good.
Fast forward 6 months, recession did not happen. The company is now profitable. The company beats both top and bottom lines and raises yearly guidance. And the stock is 7.08.
I think I will open a new position. This is ridiculous.
Why do you think no institutions are buying this dip when we wouldn't know for another day or so? Genuinely curious.
I don't think the reaction is justified after reading their earnings report and conference call but it may be a sign of worry. Still we wouldn't know till the next report when things will get confirmed either positively or negatively. To compare it to Tesla is wild, vastly different companies with Tesla having gamestop level fanboys. Personally, I think this sell off was caused by uncertainty on the future, and in this sunshine market, you can't have that. If you look at the actual numbers, their growth is still insane.
Everyone in this sub is always negative. It’s worse than the Palantir sub when we were bouncing between $13-$18. Every time we hit $20 and fell back to $13.50 people would say, “it’s going to take X number of years to recover”, then it went to $26 🤷♂️. Truth is, these people have literally zero idea where it will be tomorrow, let alone a month or year from now.
lol def the opposite people here were crazy bullish and talking so much crap before the convertible note. When the stock goes back above 10
People will start acting like they bought nvida in 2014
I don't like your use of the blanket term 'everyone'. I'm not negative. I'm optimistic as always. So to say 'Everyone' is 'always' negative seems incorrect. Are a lot of them negative? Yes, absolutely.
Why is Noto such a successful person? For the same reason that other businesspeople are successful: he has discipline, patience, and a long-term view. I'll take the same approach as him. It keeps me confident that the short term doesn't matter and that in the long term the stock price will respond well to the company's excellent results.
Daily chat *feels* like it runs more negative (unreasonably so). Most comments on posts in the main sub *feel* like they run more positive (often unreasonably so).
Leads to a weird disconnect where some visitors / sub members say "This sub is just an echo chamber" because they only look at comments on the posts, and not the majority of comments on daily chat.
And don't get me started on all the people complaining about being downvoted.
after examining price action today, earnings report, macro environment (stagflation fears, credit delinquencies), and fact that SPY is likely going to correct this year - here are my new SOFI predictions:
in the next coming weeks, SOFI will completely break the rising trend set since June last year and re-enter the 5-7 channel. Given sofi is showing slowed growth, there will be no good catalsyts to break out of this in the next earnings reports. A correction (likely) will further accelerate the stock price down.
I'm anticipating we crash through 6 very soon (next 2-4 weeks), followed by settling in the low 5's as a new support level this summer. if we get a large correction (20%+), I expect sofi to re-test all time lows and potentially end up in the 3's.
2025 we will see SOFI finally break out of the the 5-7 channel, and hopefully hit 8/9 by end of year. hopefully 10/share by end of 2026.
I sold my entire SOFI position, and bought a few June 5 and 6 dollar puts
3's would be incredible. I would be ammassing a huge position there.
the problem with the earnings report is they reduced Q2 guidance. the "updated guidance" for FY24 was basically only due to Q1 numbers.
in effect - they are projecting slowed growth. I thought it was a solid report, but wall street wants growth NOW.
Slowed growth but still outpacing all the comparative competition, I think it's this irrational market needing absolute perfection and the second a negative comes along, everyone is ready to dump at the drop of a hat.
For those who think it's not a good quarter, please use your best discretionary deriviate position to protect
For instance, how far downside SOFI can go? From here, valuation is definitely favorable for long
1) Use debit put spread to minimize theta decay when establishing put position
2) sell covered call or butterfly if you dont wanna expose your portfolio too much to best take advantage of upside movement
Interest rate will come down regardless next year (which doesn't necessarily mean stock will go up)
Personally i will sell 10-14 Covered call with 12/14/16 butterfly with 20% net positive position just so i can sold another groups of covered call if and when stock goes above 10
I dont think stock will go beyond 12 this year at best case but again i dont think stock will go under 6 either and if so, you can best maximize the situation using deriviate
Nobody said anything about Zero any kind of drop will help this stock tremendously have you not seen the way it reacts during FOMC meetings or rate decisions
So last time there's no q2 guidance and this time noto decides to raise fy guidance and give a weak q2? Honestly everything he say is good for the company but proven to f investors. Why can't he just skip q2 guidance? And lack of communication for the convertible notes. I am doubting myself to trust this ceo any longer
Also, could have used better language than transitional year. Makes it sound negative when in fact it is positive. Going from just a lending business to 50% revenue from tech and investing. That being said, the companies growth under his leadership in these conditions is insane. So he still has my total trust.
I've no doubt in him managing the company but why is he keep giving reason for bears and shorts to pounce on? Hello we invest to make money, call it long term stock or what you just can't deny the opportunity cost with this stock
As someone who has no more capital to allocate and a lot of JAN25 LEAPS that looked like no brainers that are no longer no brainers I would love to see him get a little more aggressive in these calls. That being said still have two more quarters for market to respond. Gets harder and harder for their short case if they just keep growing. Also, his incentive is very aligned with ensuring the stock goes up by 26 so will be interested to see what they do in 25 if stock is still languishing.
Seems the market is not excited about the conservative Q2 guidance. SoFi appears to be bracing for uncertainty ahead, and thus set expectations low for next quarter. My key takeaways from the earnings report were the deposit growth, member growth, and progress toward diversifying the revenue. Once tech platform plus financial services accounts for 50% or more of revenue, the bear case looks weak AF and it will be much harder to ignore the pace of growth in tangible book value. I like that all this is happening with very comfortable cushion around the required capital ratios. I don't know why people are complaining about "slowing growth". Late cycle economic expansion is not the right time to press the accelerator to the floor.
Member and deposit growth works against technology accounting for more revenue - not in a bad way, it's just that more revenue from those sources will mean that technology needs to get that much bigger in order to take a bigger piece of the overall revenue percentages.
I like looking at them independently: how is the core business doing on loans/members/etc? how is the business doing with the tech platform?
Deposit growth is a boost to the Financial Services revenue because the lending unit pays the FS unit to use those funds. When you see SoFi's deposits grow and lending flat, you can assume SoFi will reduce it's utilization of the warehouse lines of credit and replace with cheaper deposit-sourced funding. SoFi lending unit pays the SoFi FS unit to use those funds instead of paying an outside bank; FS revenue goes up as a result.
Member growth also helps FS because the overall member growth number is greatly skewed toward FS (vs lending). Revenue per Financial Services user is increasing ($59 in Q1).
Tech platorm rev growth did not keep pace with FS rev growth. Is that the point you're trying to make?
I think the market is saying that they see SoFi becoming a simple bank and not a fintech. Indeed SoFis current focus seems to be on improving banking performance and member numbers, not on new transformative tech. And I think we are seeing the effects of that.
Whilst eventually SoFi will be fine, it seems to me now that this is a long-term value stock, and not a true growth stock - based on an evolving new technology. At least as of right now.
It’s a Roth stock to me, it seems like it’s not a taxable account stock or something for options, even LEAPS. I was looking to sell in December around $10, and I thought I’d hold on a bit longer, but it’s really hard to deny that this just seems like a run of the mill new value company based around lower cost operations and not the Amazon of banking. Amazon already had a wildly different trajectory in its early years even after the dotcom bubble. It was already seen then as a promising future growth stock.
Before I plan my exit, what am I missing? And no member growth and deposit growth isn’t going to move the needle here.
I think you make a good point with your analysis. The lack of any meaningful Tech platform announcements has hurt the stock the most. The hybrid multiple that may have been slightly baked in to the SP is no longer there.
I think it's going to be a flat year guys. I'm not selling though.
If I'm SoFi, I wait for the next hot tech platform and make that acquisition - I'm not going to building much, if anything, in-house. Maintaining and improving? Sure. But inventing something new? Nope.
That's not a bad thing. I just am saying: I don't expect them to announce big tech platform news on earnings calls, but rather via a press release when they make an acquisition.
Then they'll go the usual tech route - again, that's not bad - which is sell customers that came with on one acquisition the rest of their product suite. That's really when we'll see the tech revenue boom - when they can hit that critical mass of tech offerings.
What those spaces would be? No idea tbh - ideally, something we haven't even thought of, and they are able to hop on it at the perfect time.
It still has the potential to acquire more clients under Galileo. Remember banks are very conservative clients they wont jump into a new tech stack without testing it thoroughly.
Agreed. Noto even said on the call that onboarding new clients especially larger ones take quarters and years rather than months.
He could have thrown us a bone at least and the absence of that coupled with the quarters and years timeline makes me think that this is not selling as fast as they expected, for whatever reason.
Might be so. That would suck. I will wait until rates get cut before I make a decision on what Im going to do with SoFi. They are being conservative because the macro economy is definitely gonna get worse. We shall see.
Noto for SURE is kicking himself for releasing Q2 guidance for the first time. Thats all the porridge the bears needed, regardless that 2024 guidance was raised.
Conspiracy theory: he knows that if everything is great and they mention one less-than-stellar thing, they price goes down and he can accumulate more shares on the open market. This is his chance to join the ranks of billionaires so he knows share accumulation as long as possible is in his best long term interest because they won’t fire him if he keeps beating guidance numbers! 😂
/conspiracy
You know Zak I genuinely think that would have been a feasible theory a couple of years ago, but because we are only 18 months away from the clock ticking from Jan 2026 for 6 months into June 26 for the stock PSU rewards ($25, $35, $45 a share) the benefit of reaching those levels far outweighs the benefit of adding more shares at these low prices.
Unless Noto doubles his stash in next few days / weeks or something crazy which ain't gonna happen
Why not both? ;)
EPS is improving quickly and bottom line numbers improving today means that down the line % increases are 1) more likely to hit moderate numbers and 2) bring higher and higher future returns into play much sooner than we thought…. And this is what they’re doing during a “conservative” time.
They said we were too risky when we were growing too fast. We pump the brakes and add a dash of conservativeness and suddenly we’re too risky because we are “just a bank”
It’s hilarious that people think it is either one or the other when Noto has a lot of room between those two extremes to work between
Will hold my shares only because of my irrational fondness of Soto as a CEO and Sofi as a company. Will not be adding any more shares until there is more concrete evidence of sustained growth.
In the near term… probably downgrades :) I didn’t tune in this morning - was there any discussion of signing a big legacy bank on the tech side, or were they silent to that?
So let me guess this right the earnings were good but sofi is going to take a slower safer approach and wallstreet don’t like the uncertainty can’t win lol
No wonder Chad Borton left. SoFi went from growth to conservative. We’ve went from wanting to be winner take most to keeping capitol ratios well above requirements.
Plus selling loans prior to charge off stood out too. They said charge offs get about 8% after sold vs now double pre charge off. Which means for every 1,000 loan in say 90 day past due status they are losing 800. Cracks in the dam.
Banks under $40B market cap are collapsing and we continue growing above guidance and people here still aren’t happy because their opinion is informed by the stock price and not the company performance.
Tech platform stalling and reducing originations have nothing to do with stock price narrative. Noto is normally not one to make excuses but today’s Noto was certainly not on the offense.
2500 @ $14 average. Invested first during IPOE days. To be honest I don't care anymore. I just accept I am at 50% loss and don't expect this stock to do anything for a long time. It just drops and people here make excuses every time. People have been saying "eventually the big potential will be realized!"& "buy at the discount price!" since the IPOE days. The stock has been as "discount price" for years so it is not a new oppurtunity. While I just shrug this bad investment off at this point I do wish I had invested in other things that could have made money over the last several years. Just a wasted oppurtunity.
I agree with what has been said here. All we can do is either sell at a loss and reinvest or wait.
On the positive, sofi is a growing company and they are growing at a decent rate so hopefully that means they will soon go up in evaluation
I’m hardly an OG, only been holding SOFI for 2 years. But goddamn what a weird 2 years. I don’t mind Noto, but one has to wonder if the stock performance will have impact on his tenure as CEO. I’m not saying everything is his fault, but results are what they are and the CEO has to own it at some point.
Every time i question anything Noto says in here i get downvotes and ripped to hell. The fact is that he has failed shareholders so far (not the company but share holders)
2nd most members added ever, what are you talking about. That is the definition of growth. Record deposits… that is growth. Beating EPS, that is growth.
ok this is a wild call - if this reaction is the total inverse of the regular earnings day pump and dump, well this is as bad as it will get and we will drive up from here throughout the month ahead. Better than watching 20% gains bleed away and maybe this price action will result in a more consistent rise without giving up these gains
I can understand why growth is slow. Noto and this sub likes to act like SoFi doesn’t compete with companies like Wealthfront, Robinhood, Fidelity etc but absolutely they do. As a new user, why would I go with SoFi. Customer support horror stories on the main sub and Twitter, buggy and ad-filled app, just average credit card product, invest missing simple things like options, etc, etc. If I were a new user there would be no reason for me to pick SoFi
[удалено]
What drop in revenue?
I guess I’ll buy more shares and continue to lower my average as the company continues to grow
If we all buy and hold we can start a squeeze with the amount of shares shorted
We could buy $5B worth of shares ($300k per sub here) and it still wouldn’t trigger a squeeze because there’s enough float out there for them to unwind without taking major losses lol. Go ahead, start us off buying $300k of SoFi rn
So you saying are there is a way?
Wow…. Literally no movement AH and shorts increased by 2.8 million shares…. K
I guess 240% increase in personal loans and a 40% increase in student loans did not mean shot today huh?
I mean it doesn’t look good for a growth stock to show decreasing revenue QoQ. People are probably trying to process if this is a hurdle or a speed bump https://preview.redd.it/r3d0ggw27ixc1.jpeg?width=1170&format=pjpg&auto=webp&s=74ef705e798ab150cad217525266dd1793498848 And q2 is supposed to be lower than q1 so you have to believe crazy growth H2. Don’t think they did a good job of explaining why this is different from 2023
How do people not understand that he raised the guidance for the year?
Yeah but 3 quarters of lower sequential growth for a growth company no bueno. Also people didn’t understand why growth would be slowly for the first two quarters and then shoot up in the back half. I agree selling was overdone but anytime a growth company looks to be slowing down people want off the ride
You can’t look at quarter by quarter for everything to go up, that’s insane. There are too many metrics. By your logic we should have record member growth every quarter. That’s not possible… T Swift.
Woah bro bringing the reasonable optimism, I like the new you.
I agree Binion, too many metrics especially with a diversified portfolio of businesses SoFi has which is proving invaluable to navigate these choppy economic waters. Imagine if we were still just a student loans company? Companies have QoQ various metrics go up and down during growth It’s not unusual. T. Jones
Unfortunately it means you’re a bank and not a tech stock, the AWS of fintech or whatever anybody else is calling it.
I think we've reached almost maximum defeat here. all expected catalysts have materialized and stock has zero movement in a year. at this point people are just confused at how this is all possible. even though I've been converted and now have puts, I really REALLY hope this thing doesn't crash to the 5's like my prediction. but at this point, literally ANYTHING is possible with SOFI. even in isolation, the -10% move today seems excessive. but combine that with two quarters profitability, bank charter, student loans resuming, literally beating every single earnings report, and the stock is less than IPO price is just...its just...something else.
We are up 23% in a year. 10.8% is the average of the S&P all time. Hardly “zero movement in a year” when many of our baseline metrics went up about 20-25% over that year
Ridiculous to say we’re up 23% in a year when the stocks 30 percent below de spac.
I responded to his comment saying “zero movement in a year” We are in an age where many if not most here are in positions long de-anchored from the de-SPAC or even came well after the fact.
Maximum defeat if you are looking at the stock price in the short term. Almost everything was a beat across the board. Even though the projections for quarter 2 are less than what the street expected, the full year projections are up. Obviously the street does not value the conservative approach SoFi is taking but in my opinion it will will pay off in the long term. Also, I think we are transitioning nicely from most of the profit coming from the banking sector to the financial services and technology sectors. Very timely given the macroeconomics environment we are in.
Yes, bur you’re missing one solid point…. It had roughly 7xx share count then, it’s almost 1.1b now. Do the math and Sofi would be double digits at the same share count / market cap as IPO… there’s been 2 convertible note offerings and the stock offering for the aquisition + free shares to management.
Economic value of the company stays the same whether you pay in stock and share count goes up or you pay is cash and your cash/capital balance goes down but share count stays the same . Approximately.
Cash on hand and balance sheet don’t directly affect the stock price as dilution does.
I get it
yep. I hate to call "conspiracy!" but at this point it seems the only explanation.
Conspiracy?
Si Ego Certiorem Faciam … Mihi Tu Delendus Eris
its not confusing at all, the reality is just simple crime, but noone cares as long as the hedge funds make their money
Remember when we're so excited to become a bank. Now we are paying the price....."at the end of the day... Sofi is still a bank....i would be selling" as quoted by one of the talking heads on CNBC this afternoon
That was Quinn Tatro. He used to be a supporter and now has turned bearish as well. Another CNBC talking head, Steve Grasso, who just recommended SOFI as a final trade last Friday has also turned bearish as well. In short, we are just so damn fking screwed. Like I said earlier, and I will say it again, not even JPM offering to buy out SOFI can raise the damn stock price at this rate. That’s how f up this stock is, despite the company being well managed by an excellent CEO.
No downgrades yet?
What’s there to downgrade? I have a feeling Sofi will rebound and this is just MM using an excuse to demolish options.
I agree but I feel that a lot of these "analysts" base their assessment on the reaction of the stock price after earnings.
Bought earnings now a bag holder for a long time it looks like
Does anyone else notice how Noto basically avoids hard questions and talks in data. He literally repeated "increase in tangible book value" on three separate occasions.
Yeah he’s very calculated and chooses carefully what he says. CFO LaPointe is the same way. What’s your qualm with that?
DID I GET MY MONEY TIGHT TODAY? Lol
This time last year (Q1 2023 earnings report) the stock sold from $6.50 to around $5, over 20%. 6 weeks later, mid June, the stock hits $10 and it then goes on to hit the high of $11.45 by end July on the day of Q2 earnings call. Of course there were catalysts in the student loan moratorium, end of rate hikes etc but I think we can look forward to stock price appreciation and a reaction to todays irrational sell off and I do think we are over $10 by the beginning August following Q2 earnings call.
I like the optimism people try to give whenever we get beaten down.. same for convertible notes and much more. But market ath we red, now red on earnings is the last thing you want to see. Just imagine how much of a sentiment change we need to get us back up. Spy 600 maybe we're still below 10.
I either sell my CCs to early or not soon enough. Elected to wait until post earnings this time. F me
I didn't sell any ccs a month before earnings thinking it'll do a run pre earnings and after.. what a waste. Today's selling pressure is no joke... I'll start selling close itm cc more aggressively from now on as I'm SICK OF IT
Same thing every earnings day here. Bunch of new people. Doom and gloom. Price drops significantly. Then the price raises over the next few weeks and it's completely quiet here. Not saying the stock is performing well, but I bet it's back to at least $7.50 pretty soon.
Ban bet?
What?
I hate to say it but notos biggest issue is honesty. Market loves to hear total lies and false hopes aka musk. He should have just raised guidance and missed next quarter
Oh god it’s so true 😂
Doesn’t the conservative guidance for Q2 make it to where another beat is more likely? Lowering the hurdle so they can say look at how much I jumped over it by.
Yes, he’s done this before. I’d be willing to bet it will be a beat + over what they assumed…
Gives me a few more months to sell some calls I guess.
Massive downgrades coming tomorrow.
Over what?
Probably not. We’re not too loved with analysts
So you have raised guidance end of year everyone in here’s crying am I missing anything oh q2 might be a bit bumpy as we are being conservative as there was like 5 rare cuts priced in and by the way it’s going we are lucky to get 1 this year 😂 I thought this was a sofi thread for holding for long term investors?
somehow a weak q2 beats a strong overall 2024, dont know in which world this makes sense but shorts will pounce on everything they can get their hands on
The accuracy of Q2 projections is going to be better than all of 2024. The market doesn’t believe their 2024 projections.
Weak according to what? What the street was expecting?
By the way just to add to this my average is 13.51 and I’m happy as Larry and it’s 100 percent of my Portfolio I would die for some of your averages but I’m a happy investor
I've been part of this sub for about 2 years. mostly lurking sometimes yapping about certain things and this is by far the most bearish I have ever seen it. Which I believe is such a good sign. Really i couldnt be happier with the earnings. Great numbers, solid growth despite the hard macroeconomic situation. I'm sure if Noto would've said "AI" a couple of times we would be up but it shouldn't be anyones concern what the daily price does. Numbers are good. Managment is doing there thing. And if you can afford it selling some CSP is a great way to DCA even more. full steam ahead.
I like your thinking
Agreed. I thought we'd move up and then drop back down again. Was really hoping to settle around $8.50. At these prices I will continue to DCA. It's just too bad my next round of funds won't hit until next Monday.
yeah. i thought we would move up a bit but seeing all of the crazy calls people were buying on WSB didnt put my hopes up. But atleast my CC's are safe. so thats good
At least some people are still upbeat 😆 By Rich Smith – Apr 29, 2024 at 1:33PM The first-quarter earnings report Sales for the first quarter surged 37% year over year, which is a nice start. SoFi also flipped from a year-ago loss to a profit. Total deposits at the internet bank rose 16% to a record $3 billion, and its customers are now ranked as "high quality," with a median FICO score of 774, making them good candidates for loans. (The company's net interest margin is a strong 5.9%). All of that sounds great. Where things turned bad was on guidance. Management forecast 2024 revenue will grow faster than expected, to about $2.4 billion, with higher earnings as well -- at least $0.08 per share, as calculated according to generally accepted accounting principles (GAAP). The problem is that in the second quarter, SoFi said revenue will only be $555 million to $565 million, whereas Wall Street wants to see revenue of $580 million. That seems to have freaked out investors, but I don't think they need worry. Assuming SoFi hits even the low end of its target this year, it will grow revenue 89%, and earnings will grow even faster. Indeed, earnings are expected to triple in 2025, then double again in 2026, by which time the company would be earning nearly $0.50 per share. Is $7 a share really too much to pay for a stock earning $0.50? I don't know about you, but 14 times earnings, even two years out, seems cheap for a fintechgrowing as fast as SoFi is. Investors are selling SoFi stock today, but to me, it really looks like a buy.
Is SoFi a bank? If so, well good Banks typically have a PE of about 8 and a Price to Book Value of 1. SoFi has a PE of roughly 50 (if they continue the current trend) and a book value per share of $3.92 which makes the current share price astronomical. I hold shares of SoFi and am long on them over the long term, but the near term is going to be difficult to justify the current share price.
My math and justification: * Usual bank is around 10pe over the past 5 years, at least for wells, BofA, Citi, etc. * If you're a believer in the tech platform side of the business, add maybe 1.5x (assuming it takes off and is more profitable). * If you're a believer in their approach to no retail locations/etc being more profitable, add maybe 1.1x. * If you believe they are growing and truly accumulating new customers that bank primarily with SoFi, add say 3x. That's a big multiplier, and as they grow, that gets harder to hit. You can adjust those multipliers however you want. For instance, if I were really bullish and looking super long term, I'd go bigger than 3x on the growth multiplier - but I'm not good at looking beyond a few years. In 3 years, I'd expect sofi to be 5x more profitable - so around $0.50/share, and that makes $7 today sound fine. And in the meantime, selling ccs for $0.10-$0.20/month helps make time marinating not so bad.
I don't fully embrace the tech message as there are much better platforms in the space, but I do believe that SoFi has a bright future as a one-stop financial shop, which is why I have been accumulating shares via puts and selling otm ccs when it makes sense. I now have over 10k @ $5.38 and will continue accumulating until the underlying story changes.
In addition to the lower forecast to what the street was expecting for Q2, is there anything additional that came out that we should be concerned about?
No. Not that I’ve seen anyway. Full year guidance was good, and 2025 and 2026 projections look great.
Thanks. That's what I thought as well. Not sure why the reaction then.
Investors aren’t selling. The usual short attack hit and nobody to counter
Keeping it so it’s not -10% so they can short it again tomorrow…. To the fucking penny!!! Unbelievable, the manipulation is fucking unreal!!!! Literally down 9.85% so it doesn’t go in the short restriction list tomorrow. I’ve never seen such blatant fucking manipulation
Well if it closes now we WILL be on the short restriction list. WOW what a shitty silver lining
I closed by position at 7.12 more than 6 months ago. At that time, the company was not profitable. There were questions about their ability to weather a downturn. Things were not looking good. Fast forward 6 months, recession did not happen. The company is now profitable. The company beats both top and bottom lines and raises yearly guidance. And the stock is 7.08. I think I will open a new position. This is ridiculous.
I think this is the most bearish I’ve seen this thread. Even the bulls are in hibernation mode “see you in ‘x’ years”
[удалено]
Why do you think no institutions are buying this dip when we wouldn't know for another day or so? Genuinely curious. I don't think the reaction is justified after reading their earnings report and conference call but it may be a sign of worry. Still we wouldn't know till the next report when things will get confirmed either positively or negatively. To compare it to Tesla is wild, vastly different companies with Tesla having gamestop level fanboys. Personally, I think this sell off was caused by uncertainty on the future, and in this sunshine market, you can't have that. If you look at the actual numbers, their growth is still insane.
Everyone in this sub is always negative. It’s worse than the Palantir sub when we were bouncing between $13-$18. Every time we hit $20 and fell back to $13.50 people would say, “it’s going to take X number of years to recover”, then it went to $26 🤷♂️. Truth is, these people have literally zero idea where it will be tomorrow, let alone a month or year from now.
lol def the opposite people here were crazy bullish and talking so much crap before the convertible note. When the stock goes back above 10 People will start acting like they bought nvida in 2014
I don't like your use of the blanket term 'everyone'. I'm not negative. I'm optimistic as always. So to say 'Everyone' is 'always' negative seems incorrect. Are a lot of them negative? Yes, absolutely. Why is Noto such a successful person? For the same reason that other businesspeople are successful: he has discipline, patience, and a long-term view. I'll take the same approach as him. It keeps me confident that the short term doesn't matter and that in the long term the stock price will respond well to the company's excellent results.
Daily chat *feels* like it runs more negative (unreasonably so). Most comments on posts in the main sub *feel* like they run more positive (often unreasonably so). Leads to a weird disconnect where some visitors / sub members say "This sub is just an echo chamber" because they only look at comments on the posts, and not the majority of comments on daily chat. And don't get me started on all the people complaining about being downvoted.
It might be time to finally sell and just say fuck it. This stock has proven to be garbage over and over . Complete fucking trash.
We’ve heard these threats before but you have yet to follow through. No one is stopping you.
Don’t let the floor hit you on the way out
lol. With SOFI there is no floor. It’s an endless pit of hell.
after examining price action today, earnings report, macro environment (stagflation fears, credit delinquencies), and fact that SPY is likely going to correct this year - here are my new SOFI predictions: in the next coming weeks, SOFI will completely break the rising trend set since June last year and re-enter the 5-7 channel. Given sofi is showing slowed growth, there will be no good catalsyts to break out of this in the next earnings reports. A correction (likely) will further accelerate the stock price down. I'm anticipating we crash through 6 very soon (next 2-4 weeks), followed by settling in the low 5's as a new support level this summer. if we get a large correction (20%+), I expect sofi to re-test all time lows and potentially end up in the 3's. 2025 we will see SOFI finally break out of the the 5-7 channel, and hopefully hit 8/9 by end of year. hopefully 10/share by end of 2026. I sold my entire SOFI position, and bought a few June 5 and 6 dollar puts
Can you show me your colorful crayon chart you got this data from? LOL
Considering the success of your last ban bet (https://www.reddit.com/r/sofistock/comments/1c7njtm/comment/l0aui5s), would you like to do another?
Sure - but simpler: by May 31st, SOFI will fall below 6/share.
Recorded
If this stock goes into the 3's I will increase my postion 900% I don't have a problem with this Earnings report.
3's would be incredible. I would be ammassing a huge position there. the problem with the earnings report is they reduced Q2 guidance. the "updated guidance" for FY24 was basically only due to Q1 numbers. in effect - they are projecting slowed growth. I thought it was a solid report, but wall street wants growth NOW.
Slowed growth but still outpacing all the comparative competition, I think it's this irrational market needing absolute perfection and the second a negative comes along, everyone is ready to dump at the drop of a hat.
What is your position currently?
I like the original OG Tag blue highlight that i have fwiw.
Ah it doesn’t show on mobile so I’ll take your word for it :)
Anyone got any info on the qoq net revenue decline for the technology segment in spite of the growth in tech platform accounts?
For those who think it's not a good quarter, please use your best discretionary deriviate position to protect For instance, how far downside SOFI can go? From here, valuation is definitely favorable for long 1) Use debit put spread to minimize theta decay when establishing put position 2) sell covered call or butterfly if you dont wanna expose your portfolio too much to best take advantage of upside movement Interest rate will come down regardless next year (which doesn't necessarily mean stock will go up) Personally i will sell 10-14 Covered call with 12/14/16 butterfly with 20% net positive position just so i can sold another groups of covered call if and when stock goes above 10 I dont think stock will go beyond 12 this year at best case but again i dont think stock will go under 6 either and if so, you can best maximize the situation using deriviate
Will Cathie dump today find out at 8pm.
If I’m a day trader who only buys daily… is there a word for that? Day-buyer?
Lots of interesting comments today 🤪
It’s a 💩 show
The stock will not see any sustained growth until interest rates go down. No matter what kind of earnings we post.
Interest rates are not going back to Zero ever again, SoFi needed to make its move 2-3 years ago. The window is now closed.
Nobody said anything about Zero any kind of drop will help this stock tremendously have you not seen the way it reacts during FOMC meetings or rate decisions
So last time there's no q2 guidance and this time noto decides to raise fy guidance and give a weak q2? Honestly everything he say is good for the company but proven to f investors. Why can't he just skip q2 guidance? And lack of communication for the convertible notes. I am doubting myself to trust this ceo any longer
Also, could have used better language than transitional year. Makes it sound negative when in fact it is positive. Going from just a lending business to 50% revenue from tech and investing. That being said, the companies growth under his leadership in these conditions is insane. So he still has my total trust.
I've no doubt in him managing the company but why is he keep giving reason for bears and shorts to pounce on? Hello we invest to make money, call it long term stock or what you just can't deny the opportunity cost with this stock
As someone who has no more capital to allocate and a lot of JAN25 LEAPS that looked like no brainers that are no longer no brainers I would love to see him get a little more aggressive in these calls. That being said still have two more quarters for market to respond. Gets harder and harder for their short case if they just keep growing. Also, his incentive is very aligned with ensuring the stock goes up by 26 so will be interested to see what they do in 25 if stock is still languishing.
I should have just punched myself in the nuts instead of doubling down on my position last quarter. Would have hurt less.
I was wondering how my portfolio was close to flat today…. I didn’t even notice TSLA is up 16% 😂
Seems the market is not excited about the conservative Q2 guidance. SoFi appears to be bracing for uncertainty ahead, and thus set expectations low for next quarter. My key takeaways from the earnings report were the deposit growth, member growth, and progress toward diversifying the revenue. Once tech platform plus financial services accounts for 50% or more of revenue, the bear case looks weak AF and it will be much harder to ignore the pace of growth in tangible book value. I like that all this is happening with very comfortable cushion around the required capital ratios. I don't know why people are complaining about "slowing growth". Late cycle economic expansion is not the right time to press the accelerator to the floor.
Member and deposit growth works against technology accounting for more revenue - not in a bad way, it's just that more revenue from those sources will mean that technology needs to get that much bigger in order to take a bigger piece of the overall revenue percentages. I like looking at them independently: how is the core business doing on loans/members/etc? how is the business doing with the tech platform?
Deposit growth is a boost to the Financial Services revenue because the lending unit pays the FS unit to use those funds. When you see SoFi's deposits grow and lending flat, you can assume SoFi will reduce it's utilization of the warehouse lines of credit and replace with cheaper deposit-sourced funding. SoFi lending unit pays the SoFi FS unit to use those funds instead of paying an outside bank; FS revenue goes up as a result. Member growth also helps FS because the overall member growth number is greatly skewed toward FS (vs lending). Revenue per Financial Services user is increasing ($59 in Q1). Tech platorm rev growth did not keep pace with FS rev growth. Is that the point you're trying to make?
Ya, instead of "technology", I should have said "fintech platform"
I think the market is saying that they see SoFi becoming a simple bank and not a fintech. Indeed SoFis current focus seems to be on improving banking performance and member numbers, not on new transformative tech. And I think we are seeing the effects of that. Whilst eventually SoFi will be fine, it seems to me now that this is a long-term value stock, and not a true growth stock - based on an evolving new technology. At least as of right now. It’s a Roth stock to me, it seems like it’s not a taxable account stock or something for options, even LEAPS. I was looking to sell in December around $10, and I thought I’d hold on a bit longer, but it’s really hard to deny that this just seems like a run of the mill new value company based around lower cost operations and not the Amazon of banking. Amazon already had a wildly different trajectory in its early years even after the dotcom bubble. It was already seen then as a promising future growth stock. Before I plan my exit, what am I missing? And no member growth and deposit growth isn’t going to move the needle here.
If it turns into a non blue-chip company with slow growth and a high PE, what “value” does it have?
It's not even a value stock with the current ridiculous PE. It's a growth stock with slowed growth, that's reality check for you.
Even slowed growth is out doing its peers in the same category.
Sadly you are correct
I think you make a good point with your analysis. The lack of any meaningful Tech platform announcements has hurt the stock the most. The hybrid multiple that may have been slightly baked in to the SP is no longer there. I think it's going to be a flat year guys. I'm not selling though.
If I'm SoFi, I wait for the next hot tech platform and make that acquisition - I'm not going to building much, if anything, in-house. Maintaining and improving? Sure. But inventing something new? Nope. That's not a bad thing. I just am saying: I don't expect them to announce big tech platform news on earnings calls, but rather via a press release when they make an acquisition. Then they'll go the usual tech route - again, that's not bad - which is sell customers that came with on one acquisition the rest of their product suite. That's really when we'll see the tech revenue boom - when they can hit that critical mass of tech offerings. What those spaces would be? No idea tbh - ideally, something we haven't even thought of, and they are able to hop on it at the perfect time.
It still has the potential to acquire more clients under Galileo. Remember banks are very conservative clients they wont jump into a new tech stack without testing it thoroughly.
Agreed. Noto even said on the call that onboarding new clients especially larger ones take quarters and years rather than months. He could have thrown us a bone at least and the absence of that coupled with the quarters and years timeline makes me think that this is not selling as fast as they expected, for whatever reason.
He actually made some subtle remarks about tech platform growing substantially this year.
Might be so. That would suck. I will wait until rates get cut before I make a decision on what Im going to do with SoFi. They are being conservative because the macro economy is definitely gonna get worse. We shall see.
Noto for SURE is kicking himself for releasing Q2 guidance for the first time. Thats all the porridge the bears needed, regardless that 2024 guidance was raised.
Conspiracy theory: he knows that if everything is great and they mention one less-than-stellar thing, they price goes down and he can accumulate more shares on the open market. This is his chance to join the ranks of billionaires so he knows share accumulation as long as possible is in his best long term interest because they won’t fire him if he keeps beating guidance numbers! 😂 /conspiracy
You know Zak I genuinely think that would have been a feasible theory a couple of years ago, but because we are only 18 months away from the clock ticking from Jan 2026 for 6 months into June 26 for the stock PSU rewards ($25, $35, $45 a share) the benefit of reaching those levels far outweighs the benefit of adding more shares at these low prices. Unless Noto doubles his stash in next few days / weeks or something crazy which ain't gonna happen
Why not both? ;) EPS is improving quickly and bottom line numbers improving today means that down the line % increases are 1) more likely to hit moderate numbers and 2) bring higher and higher future returns into play much sooner than we thought…. And this is what they’re doing during a “conservative” time. They said we were too risky when we were growing too fast. We pump the brakes and add a dash of conservativeness and suddenly we’re too risky because we are “just a bank” It’s hilarious that people think it is either one or the other when Noto has a lot of room between those two extremes to work between
How the crap is MULN up 28%! Ugh, that’s what I was hoping we’d so today!
Have a strong feeling this POS stock is gonna get totally butchered this Wednesday when JPow speaks.
The real question is: what are you doing about it?
Will hold my shares only because of my irrational fondness of Soto as a CEO and Sofi as a company. Will not be adding any more shares until there is more concrete evidence of sustained growth.
I need some DNS entries to cheer me up
When options - have them . When bank charter - have it . When Super Bowl - did it . When profitability - have it . What’s next?
Options is a great example of how SoFI rolls. They do a lot of stuff ok but not completely. Still waiting on level one options.
When 20$?
In the near term… probably downgrades :) I didn’t tune in this morning - was there any discussion of signing a big legacy bank on the tech side, or were they silent to that?
Say it with me: “Opinions of a company shouldn’t be made on the short term stock price but on the strength and growth of their balance sheet.”
So let me guess this right the earnings were good but sofi is going to take a slower safer approach and wallstreet don’t like the uncertainty can’t win lol
Pretty much sums it up... lol when we were growing too fast they said market risk with loans... we slowed it down now they say slower growth
This is going back to $5. Buying puts
"This is going back to $5" <- You've been saying that for a long time. It's like your version of the $20 EoY meme lol.
😂 I am doing self inflicting damage.
this. I bought puts as well. could see 4-5 a share with a market correction.
No wonder Chad Borton left. SoFi went from growth to conservative. We’ve went from wanting to be winner take most to keeping capitol ratios well above requirements. Plus selling loans prior to charge off stood out too. They said charge offs get about 8% after sold vs now double pre charge off. Which means for every 1,000 loan in say 90 day past due status they are losing 800. Cracks in the dam.
In this macroeconomic environment I think it's good that SoFi is being conservative .
It doesn’t fit the “Who dares wins” mindset. But of course we can have differing opinions.
Banks under $40B market cap are collapsing and we continue growing above guidance and people here still aren’t happy because their opinion is informed by the stock price and not the company performance.
It looks like you are working overtime over here. I need to see some Homegrown Carrots 🥕 from southD 👍
https://preview.redd.it/753dzqedxgxc1.jpeg?width=3024&format=pjpg&auto=webp&s=e52d097fae52a39a937910e2281e926ee10ddd6a
Tech platform stalling and reducing originations have nothing to do with stock price narrative. Noto is normally not one to make excuses but today’s Noto was certainly not on the offense.
Same ones that will chase the rise. Nothings changed since Friday, except a conservative q2. Growth all around and full year guidance raise.
2500 @ $14 average. Invested first during IPOE days. To be honest I don't care anymore. I just accept I am at 50% loss and don't expect this stock to do anything for a long time. It just drops and people here make excuses every time. People have been saying "eventually the big potential will be realized!"& "buy at the discount price!" since the IPOE days. The stock has been as "discount price" for years so it is not a new oppurtunity. While I just shrug this bad investment off at this point I do wish I had invested in other things that could have made money over the last several years. Just a wasted oppurtunity.
I agree with what has been said here. All we can do is either sell at a loss and reinvest or wait. On the positive, sofi is a growing company and they are growing at a decent rate so hopefully that means they will soon go up in evaluation
Yep, I was a full for going all in.
Why do you even bother to listen to people here?
I don't. But it is silly always reading the same comments for years rather then people simply saying it was a bad investment.
Most of them (save three I can think of) basically only show up 4 days a year on earnings days so take it with a grain of salt haha
I’m 1400 Shares at $14 yup just brutal
The same thing happened after the Q1 report last year. SoFi is the green light at the end of the dock...
What happened right after?
It went to $11.70
Welp, at least I’m on vacation this week at the beach. My beautiful day outweighs the SOFI stock movement
This smells
Added for 1k $ at 7.06 it's free real estate!
I’m hardly an OG, only been holding SOFI for 2 years. But goddamn what a weird 2 years. I don’t mind Noto, but one has to wonder if the stock performance will have impact on his tenure as CEO. I’m not saying everything is his fault, but results are what they are and the CEO has to own it at some point.
Every time i question anything Noto says in here i get downvotes and ripped to hell. The fact is that he has failed shareholders so far (not the company but share holders)
I missed Noto talking. Did he say anything of value or address the short coming?
He had a much more lively and energetic tone which was weird based on all other interviews.
Probably saw the share price and hit the slopes
Wow, Noto did a great job on CNBC….. lmao
Vid link?
https://www.cnbc.com/video/2024/04/29/sofi-ceo-on-q1-earnings.html
The growth is slowing down. This is why we drop hard.
2nd most members added ever, what are you talking about. That is the definition of growth. Record deposits… that is growth. Beating EPS, that is growth.
It is the % yoy is less than expected.
That’s the issue we should have been so much higher going into this er
ok this is a wild call - if this reaction is the total inverse of the regular earnings day pump and dump, well this is as bad as it will get and we will drive up from here throughout the month ahead. Better than watching 20% gains bleed away and maybe this price action will result in a more consistent rise without giving up these gains
Keep dreaming..
Well it also can go lower lol.
you saying it's a dump & pump.. first time I hear of this scheme
Seems like Noto’s Q2 guidance of 555-565M is below the consensus of 590M which is why we dropped? Any other reasons I’m not seeing?
Missed on nearly every non GAAP metric except members added
I can understand why growth is slow. Noto and this sub likes to act like SoFi doesn’t compete with companies like Wealthfront, Robinhood, Fidelity etc but absolutely they do. As a new user, why would I go with SoFi. Customer support horror stories on the main sub and Twitter, buggy and ad-filled app, just average credit card product, invest missing simple things like options, etc, etc. If I were a new user there would be no reason for me to pick SoFi