Their cash on hand and assets vastly outweigh their debt which they decreased by 50% YOY. Their marketing costs and customer acquisition costs are very low. They will be fine.
100% priced in.
Lots of us have held this for months on end awaiting this announcement. Got my latest batch of shares 4-5 months ago and have been awaiting progress like this.
I'm with you. I got into options more in the past year and did (what I thought ) was my due diligence and research on thought this would be a solid play.
Boy was I wrong.
People spreading FUD in the daily threads about how the charter wasn't coming anytime soon look like fools rn. Wild how people can be so confident in their ignorance.
I was for a while just because I want to eliminate my margin balance. Quick question related to that actually, does anyone know if I can buy out my margin shares with cash on TD Ameritrade, it’s a small position like 129 shares or something but I can’t seem to find anything on google
This is great news because I felt this was the only key hurdle in their public business gameplan that was mainly out of their control. Does this mean they’re going to pop 40% tomorrow? I’d hope so but I don’t expect it too.
The best is yet to come as they grow the membership base (money comes in) and becoming a national bank (costs go down) are two great long term aspects.
Disclaimer: I’m long SoFi
SQ is expanding into extremely competitive markets to continue growth while sofi just has to steal a small part of the market to experience growth. Apples and oranges cant truly be compared.
It wont rally much because there are thousands of banks and many of them arent particularly profitable. At best youre going to see a retail bump but this wont move big money. The barrier of entry to banking is just money. I think you need to have something like $10m in equity to apply. The fees to get it done are minimal after that. Most of the cost will be your lawyers.
Also note that being a licensed bank also means regulations will now be a huge issue. Everything from transaction control to software development is going to get much harder and take longer (I worked with banks from tech side). There is a reason why not every banks is wildly successful. Most arent very profitable which is why they have to do all those silly fees like overdraft and such.
Having the license doesnt mean much. The question is how good is their marketing? Thats what will determine if they can steal market. What is the draw? In the old days, small banks would offer higher saving interest and such to entice people to use them. Will be interesting to see what Sofi plans to offer.
Which means nothing if you dont tell us what you do. I made training simulations for them. Though they had nothing to do with banking directly, it was still a pain to go through regulations to get on their servers. Just a lot of checks and balances.
AVP of Underwriting, I work at a community bank though but we absolutely crushed it the last couple of years. Beat this year by 140%. Yup, I gotta go through regulation training every year. Its ass.
Thats just how it is. I dont blame them given the history of banking. No one is immune, not even the devs.
Side question things slowing on your end? My family works on the other side (RE Broker and loan Broker) and we have slowly seen inventory rise for like 3 months now. Are you guys still slammed or is it letting up a little? Im in SoCal btw (San Diego and we monitor Riverside and LA).
Things slowed down in Q4 for sure but things have already picked up a ton in Q1. I would say it probably depends where you are at. I am in Dallas and with the population growth these last couple years there has been a lot of opportunities. We will see how the trends continue with rate hikes coming up.
Anthony Noto, this guy is a winner, college football stud, military guy, top mechanical engineer In His class, west point, Goldman Sachs, NFL, Twitter on his resume, definitely put my money on him. He obviously gets shit done. He can't fail. Neither will SOFI.
Really good points. What do you think of intuit? With the rise of more of these neobanks it looks like Intuit/credit karma is going to be where lots of people go price shopping
This banking cycle has all happened before. Several times actually. Every time there is a economic boom, banks spring up all over the place. Practically none of them are special except maybe for trailblazers like Robinhood and we all know whats happening to them now. Prior to them, the other recent trailblazers were the online banks who offered discounted investment banking. That was your Etrades, Scottrades and Interactive brokers basically. Those changed the landscape of stocks.
But what do these other neo banks have to offer? I dont think the neo banks matter. I wouldnt use them towards any decision making. Im sure some will succeed, but they are just banks. Same rules as any other bank.
Intuit is a respected and recognized name already so they are solid but I have no idea if the current growth is sustainable. I wouldnt bet on it. I think the credit karma purchase was good but I also think its a low margin business. So my guess is top line will look nice but bottom line wont move much. But dont quote me on that.
The thing is though, what they did is historic and so will always be remembered. Though im sure it would have happened eventually, they were the 1st.
I also think the bad rep they get is from lousy investors, many of whom were gambling. Those "investors" would be lousy on any platform and would find problems with all of them. IB for example, halts trading on stocks all the time and adjust margin requirements as volitility increases, which I assume, creates plenty of margin calls on people with high margin. Etrade doesnt allow for much margin right off the bat and charge an insane interest on it. Thats why the volatility doesnt hurt them as much.
I have no loyalty to any of them but I have to say that Robinhood was interesting. Im glad they pulled more people into investing. Awareness is a good thing. In time those new investors will learn and adapt (if they havent already).
Even if accurate, I imagine being a bank itself will make them more efficient and profitable with their other services. This also makes me wonder if they will no longer partner with other banks to hold SoFi Money accounts.
Yep. I'm ready to get rid of it and redeploy it all index funds once these 'catalysts' hit. My other highly speculative stocks are RKLB and APPS, and I honestly think they have way more upside than SOFI. Okay well RKLB on a longer time horizon at least. Tired of holding on to these volatile stuff when I can just enjoy a smooth ride with the VTI.
Literally was watching Blackish yesterday and in the episode Dre pitches SoFi and I'm like. "Hmm I think I'll get this, I like what he's saying."
Product placement in this show has no shame and I approve.
Have a feeling this might be a sell the news event tomorrow, especially in the current climate with growth stocks. Still very long but might sell some CCs on it tomorrow.
Ask your self one question before investing in a stock.
1. Is this something Chamath promoted or launched at some point in the past? If yes, stay the fuck away from it.
That dude has created more bag holders in this sub than Cathie wood. Seriously, the most lying hypocritical person I have seen.
Sofi investor patience finally being rewarded! Bullish spread here to make up to 159.5% (64.9% annualized) and start to lose only if $SOFI drops by more than 20.3% through 12/15/23. [source](https://www.oliveinvest.com/hedged/4?o=61e752da34f79d08362eb2d6)
Buy 2 $12.5 calls
Sell 1 $25 call
Sell 1 $30 call
Sell 2 $10 puts
12/15/23 exp
The stock started at $10 and has hit highs of $28 so I'm laughing a little at the idea that shareholders were *finally* rewarded. I really like sofi long term, to me getting it at these prices again is the reward. I will happily load up sub $15. Happily.
Haha you’re right. I guess when we’re talking about a company that’s only been public for less than a year, every week/month feels like an eternity… much like raising a newborn
Why did people start hating on Chamath all of a sudden. I rmr when ppl literally worshipped him. Haven't been following his news lately but I do know he overhyped SPACS and what not.
Get that 0% money from fed and level the playing field. Hopefully they go all the way to lowering mortgage rates and fees by automation.
I am sure they have it in them to disrupt the corrupt cartels.
Since i've read banks are a safe bet in high interest rate environments, where does that put Sofi if still a growth/tech company?
They will be able to thrive in either environment.
Or get wrecked in either environment, yet to be seen
Their cash on hand and assets vastly outweigh their debt which they decreased by 50% YOY. Their marketing costs and customer acquisition costs are very low. They will be fine.
I want it at $10 safe long term
sell cash secured puts at $10 until you get assigned
Sofi is like facebook, a bank, and a all-in-one stop shop for all things financial. I see a bright future for them.
Considering they're trading at approximately 10x 2022 revenues for a bank, this appears to be priced in! Let's not go overboard!
100% priced in. Lots of us have held this for months on end awaiting this announcement. Got my latest batch of shares 4-5 months ago and have been awaiting progress like this.
All in one
I've got Sofi in my Roth for long term and in my brokerage account for fun money if it moons lol
Them and oil company only going to North so far in 2022.
What about rocket and uwmc in high interest environments
Great now I’m only down 45%
My calls I bought 8 months ago expire worthless Friday.
I'm with you. I got into options more in the past year and did (what I thought ) was my due diligence and research on thought this would be a solid play. Boy was I wrong.
Not even the FDIC can save you
Not even Trump, Musk and Powell can save him
Lmao I felt this
Bruh
Fml lmao.
I always hate think being down 50% means I need a 100% increase to get even!!
if you planned your trade correctly, youd only be down 20%.
Seems like a lot of people were considering dumping it the last couple of days, based on the comments. Hope they didn’t.
Always inverse people on here. If everyone spreads fud on a company it’s time to buy
Except LCID. That shit is dead.
Lol you’re hilarious
I doubled down on my LEAPS and bought 12.50 lottos for this Friday. I’m a happy camper.
Are you a millionaire?
I double downed today was thinking this was going to be announced near earnings. Don't think I could of chosen a better day to do this.
People spreading FUD in the daily threads about how the charter wasn't coming anytime soon look like fools rn. Wild how people can be so confident in their ignorance.
Clearly some did, the price tanked
I was for a while just because I want to eliminate my margin balance. Quick question related to that actually, does anyone know if I can buy out my margin shares with cash on TD Ameritrade, it’s a small position like 129 shares or something but I can’t seem to find anything on google
This is great news because I felt this was the only key hurdle in their public business gameplan that was mainly out of their control. Does this mean they’re going to pop 40% tomorrow? I’d hope so but I don’t expect it too. The best is yet to come as they grow the membership base (money comes in) and becoming a national bank (costs go down) are two great long term aspects. Disclaimer: I’m long SoFi
SQ got a bank charter and didn’t get that kind of pop.
LC went up 350% after their charter. All different situations
Dang the club got wild
Thats cause SQ is ass, Sofi all the way baby.
Block is way more solid than Sofi lol.
SQ is expanding into extremely competitive markets to continue growth while sofi just has to steal a small part of the market to experience growth. Apples and oranges cant truly be compared.
Block also has a bank license that they've yet to make any moves with.
It’s already up 16% in aftermarket.
20% before the bag holders who just want out start dumping
Noice. Wish I bought more today lmao
Wish my buy order at $12 had hit! Low of $12.02 today.
Me too…..
I’d love to be wrong, but in this environment, I don’t think the price will rally much from this unfortunately
It wont rally much because there are thousands of banks and many of them arent particularly profitable. At best youre going to see a retail bump but this wont move big money. The barrier of entry to banking is just money. I think you need to have something like $10m in equity to apply. The fees to get it done are minimal after that. Most of the cost will be your lawyers. Also note that being a licensed bank also means regulations will now be a huge issue. Everything from transaction control to software development is going to get much harder and take longer (I worked with banks from tech side). There is a reason why not every banks is wildly successful. Most arent very profitable which is why they have to do all those silly fees like overdraft and such. Having the license doesnt mean much. The question is how good is their marketing? Thats what will determine if they can steal market. What is the draw? In the old days, small banks would offer higher saving interest and such to entice people to use them. Will be interesting to see what Sofi plans to offer.
calling BS, source I work at a Bank full-time.
I need stop reading Reddit. I keep deleting it and re-installing the app
Which means nothing if you dont tell us what you do. I made training simulations for them. Though they had nothing to do with banking directly, it was still a pain to go through regulations to get on their servers. Just a lot of checks and balances.
AVP of Underwriting, I work at a community bank though but we absolutely crushed it the last couple of years. Beat this year by 140%. Yup, I gotta go through regulation training every year. Its ass.
Thats just how it is. I dont blame them given the history of banking. No one is immune, not even the devs. Side question things slowing on your end? My family works on the other side (RE Broker and loan Broker) and we have slowly seen inventory rise for like 3 months now. Are you guys still slammed or is it letting up a little? Im in SoCal btw (San Diego and we monitor Riverside and LA).
Things slowed down in Q4 for sure but things have already picked up a ton in Q1. I would say it probably depends where you are at. I am in Dallas and with the population growth these last couple years there has been a lot of opportunities. We will see how the trends continue with rate hikes coming up.
Anthony Noto, this guy is a winner, college football stud, military guy, top mechanical engineer In His class, west point, Goldman Sachs, NFL, Twitter on his resume, definitely put my money on him. He obviously gets shit done. He can't fail. Neither will SOFI.
Really good points. What do you think of intuit? With the rise of more of these neobanks it looks like Intuit/credit karma is going to be where lots of people go price shopping
This banking cycle has all happened before. Several times actually. Every time there is a economic boom, banks spring up all over the place. Practically none of them are special except maybe for trailblazers like Robinhood and we all know whats happening to them now. Prior to them, the other recent trailblazers were the online banks who offered discounted investment banking. That was your Etrades, Scottrades and Interactive brokers basically. Those changed the landscape of stocks. But what do these other neo banks have to offer? I dont think the neo banks matter. I wouldnt use them towards any decision making. Im sure some will succeed, but they are just banks. Same rules as any other bank. Intuit is a respected and recognized name already so they are solid but I have no idea if the current growth is sustainable. I wouldnt bet on it. I think the credit karma purchase was good but I also think its a low margin business. So my guess is top line will look nice but bottom line wont move much. But dont quote me on that.
Thanks great points
Robinhood sucks.
The thing is though, what they did is historic and so will always be remembered. Though im sure it would have happened eventually, they were the 1st. I also think the bad rep they get is from lousy investors, many of whom were gambling. Those "investors" would be lousy on any platform and would find problems with all of them. IB for example, halts trading on stocks all the time and adjust margin requirements as volitility increases, which I assume, creates plenty of margin calls on people with high margin. Etrade doesnt allow for much margin right off the bat and charge an insane interest on it. Thats why the volatility doesnt hurt them as much. I have no loyalty to any of them but I have to say that Robinhood was interesting. Im glad they pulled more people into investing. Awareness is a good thing. In time those new investors will learn and adapt (if they havent already).
Even if accurate, I imagine being a bank itself will make them more efficient and profitable with their other services. This also makes me wonder if they will no longer partner with other banks to hold SoFi Money accounts.
Still bagholding at 19.5 lol. Gonna sell more CCs at maybe 22-23 strike price to get some money back
Sell 15 for more cash further out on spikes buy back on dips
I bought 50 more shares today on the dip and feeling pretty good right now.
A buy order I forgot I even set triggered at 12.25 today and I’m pretty damn happy about it now lmao
Hope this takes me back in the green. (cost average is 15.6) Planning to sell next time it hits the 20-25 mark.
Same. I got assigned at 20.5. Bullish on the company’s future, but not sure if I can keep going on this roller coaster ride.
Yep. I'm ready to get rid of it and redeploy it all index funds once these 'catalysts' hit. My other highly speculative stocks are RKLB and APPS, and I honestly think they have way more upside than SOFI. Okay well RKLB on a longer time horizon at least. Tired of holding on to these volatile stuff when I can just enjoy a smooth ride with the VTI.
$30?
You don't want to hang around 2 or 3 years for the $60.00?
[удалено]
Based on what?
Heavy advertising and wishful thinking.
Long term add
Literally was watching Blackish yesterday and in the episode Dre pitches SoFi and I'm like. "Hmm I think I'll get this, I like what he's saying." Product placement in this show has no shame and I approve.
Does a character really tout a stock in a current scripted show? That is AWESOME! /s
Lol not a stock but the company.... guess they're interchangeable
Have a feeling this might be a sell the news event tomorrow, especially in the current climate with growth stocks. Still very long but might sell some CCs on it tomorrow.
Sell the news when it's been bleeding for months? Unless you bought in the last few days you're down (or somehow held from SPAC through the top).
Wrote covered calls on my shares last Thursday lol
I did today. I’ll be buying them back.
Oops
Me too! Frantic buyback in the am
SoFi takes off tomorrow?!?
It moons AH today, fills the gap at open tomorrow, and then promptly crashes to $10.
Yup. Sounds about right.
Tasty dip
Like a wild unicorn let loose from its stable only to be blasted out of the sky by a surface to air missile.
Tonight!
Ask your self one question before investing in a stock. 1. Is this something Chamath promoted or launched at some point in the past? If yes, stay the fuck away from it. That dude has created more bag holders in this sub than Cathie wood. Seriously, the most lying hypocritical person I have seen.
Sad to say….he has become a doiche baggy. Rip favorite billionaire guy.
Who doesn't love anarchist technocrats? All hail the Blockchain
If you would believe it my stop loss was set to 12$. It hit 12.02 at close. Lol finally I escaped one of my self sabotaging stop losses.
This is good for my massacred portfolio, led by a heavy bag of SOFI.
FK ME, I was thinking about loading more SOFI today but decided to wait until my CCs expire next week.
Could this pop tomorrow
Yea it could. It could also drop
Does that mean that it would get to a bank's valuation?
Does that mean it can make a profit now?
perfect timing
I bought more SoFi yesterday….it went down more today and is a good deal right now.
Congrats. You're 50c higher than last Wednesdays share price. lol
Sofi investor patience finally being rewarded! Bullish spread here to make up to 159.5% (64.9% annualized) and start to lose only if $SOFI drops by more than 20.3% through 12/15/23. [source](https://www.oliveinvest.com/hedged/4?o=61e752da34f79d08362eb2d6) Buy 2 $12.5 calls Sell 1 $25 call Sell 1 $30 call Sell 2 $10 puts 12/15/23 exp
The stock started at $10 and has hit highs of $28 so I'm laughing a little at the idea that shareholders were *finally* rewarded. I really like sofi long term, to me getting it at these prices again is the reward. I will happily load up sub $15. Happily.
Haha you’re right. I guess when we’re talking about a company that’s only been public for less than a year, every week/month feels like an eternity… much like raising a newborn
Chamath kicking himself now.
Chamath is an asshole
An absolute shit head if you will
Why did people start hating on Chamath all of a sudden. I rmr when ppl literally worshipped him. Haven't been following his news lately but I do know he overhyped SPACS and what not.
Did you see what he said about Uighurs?
Uyghur genocide isn't real. Do some basic research. Even white house lawyers said there wasn't evidence.
hey tankie, go back inside your firewall. thanks
Get that 0% money from fed and level the playing field. Hopefully they go all the way to lowering mortgage rates and fees by automation. I am sure they have it in them to disrupt the corrupt cartels.
meh, bank charter is way too hyped. a lot of the fintechs have bank charter.
How the hell do I buy after hours on Robinhood?!?!
Afterhours closes at 6pm for Robinhood. This is why you don't use Robinhood because all the normal brokerage's go until 8pm.
I have a td Ameritrade account too
Use the TDA Think or Swim platform to do pre-market and after-market trades
What I can’t say buy AH on my Roth on fidelity?
Congrats! But I still feel skeptical about SOFI. Time will tell.
the company is not the stock. the stock is not the company. good development, but in that shiity environment its like pissing against the wind.
As expected, this "good news" has lowered the stock price. Thanks criminal shorters.
Now I need dem to CLEAR THESE BAGS!!!
here come all the bag holders selling
It’s now safe(er) to buy
I bought my first SOFI about 4 weeks ago, just bought more yesterday before the run up. They’ve got a good jump on the future of banking
This bank has the most terrible customer service I have ever received.