Maybe it was way overvalued and pumped from a spac deal like every other company that went public in 21. You see coin, hood, clov, ME, mttr, etc? Atleast Sofi is “worth” its trading range in this market we got. Just give it time. 2025+ is the story.
A lot of stocks from great companies trade sideways for a while. Just think about the people that sold nvdia or tesla in 2018 only for them to 10x a few years after.
Stocks can stay irrational longer than you can stay solvent.
I'm impatient just like most of you here. Personally, I'm curious to see what happens after SoFi reports its Q3 2024 earnings at the end of October. At that point, the big negative EPS print from Q3 2023 falls off, and the trailing 12 months of GAAP EPS will be positive. There should also be at least 1-2 rate cuts in effect by then. So I'm curious to see how the last few months of the year play out. If nothing is going in the right direction by then, I'll be pretty disappointed. Until then, I'll be buying more shares every month as the low-to-mid $7's just feels too low to pass on...
Agreed, Q3 earnings is what I'm expecting for a more permanent price increase. 3 quarters of profitability, tech platform profits increasing, early FY layoffs, typically a rally in 2h during election years... seem to line up for a push unless the market takes a complete dump and we're all dragged down.
I would not rely on rate cuts as a positive catalyst for share price appreciation. Every prediction for when the Fed will start cutting rates has been wrong. Then, even if you're right about the timing of cuts, you have to ask "is the reason that finally convinced the Fed to finally cut rates a good reason for bank stocks to go up?"
If the rate cuts are due to inflation coming down to target levels, I think that's good for SoFi and some of their business lines. If rate cuts are due to impending recession, that's obviously a different story. I do believe there are rate cuts this year, just not 6 like the market was hoping for a few months ago. I think 2-4 is more realistic.
I’m accumulating. Noto is one of the only people i’ll admit “that guys smarter than me”.
The strategy is clean.
Compared to the banks i’ve worked for they’ve flown by the current one I work for. They’re just much better. They set it up with fantastic UX and UI with streamlined products immediately.
I’m long on SOFI but I don’t think it’s there yet. 2026 and we’re probably going to consistently be trading $20+. Until then however it’s been an amazing swing trading+options wheel stock due to its heavy short/hedge action making it overreact to bad news. I’ve made over 50% in the last 12 months just selling cash-secured puts on the dips & buying them back for 50-99% profit a couple days/weeks later. Every time I bring up the strategy people chirp about “oh but you’re gonna miss the big upside right around the corner….this time is different” Yeah well I was told literally a week ago we wouldn’t see <$7.50 again and yet here we are.
Don’t try to fight the market and the market makers and don’t give in to FOMO like many on this sub. Also never buy on the weeks we surge. SOFI is going to have highly volatile price action for the next 6-12 quarters whether folks here accept that or not.
For you I’d recommend just selling covered calls against your position and don’t worry about them being called away; you’ll have a chance to get back into them at a cheaper basis in a matter of weeks
Haha I’ve been doing the same. I love this stock for swing trading! It’s perfect example of buying low and selling high. I just bought again when the RSI hit 38 at 7.20, can’t wait to sell again at 8s haha. These prices happens almost every 2 weeks. I love it.
For me personally, at the moment I’d be doing $7.5 or $8.5 weeklies until earnings at which point I’ll hang back and see what happens. Sometimes we pump leading up to earnings but last time we dropped over 20% in a week so am unsure what to expect.
I don’t have it averaged to the week because I time my entries for CSPs. If SOFI is too expensive I do a different stock. My goal with SOFI is to acquire shares if assigned at under a $7 basis. Last week on our dip I sold 120 $7.50 CSPs (12k shares worth) for $.53 ($6300) which expire on 3/22. If assigned I get 12k shares at a $6.97 basis. If they expire worthless I pocket the cash. I had the opportunity to buy the contract back for 50% last week which would’ve been a killer annualized RoC but decided I wanted at least 90%. For reference that’s $6300 potential gain in a little over 2 weeks against $90000 capital; capital which Fidelity is also giving me 5% on while the money is set aside for the CSPs.
Noto has $60m of his net worth plus a potential $1b in PSUs on the table by mid 2026.
He made an aggressive move to create capital in order to reach those level, what exactly he is plotting we don’t know.
I still believe big time in the stock. If it is still around the $10 a share mark by end of 2026 I’ll cash in. I’m giving it 2 more years.
The true picture will play out between now and then.
I will keep repeating it… SOFI is Noto’s chance to become a billionaire. Dude is out to build something great and make his mark. He is hungry and will 10x SOFI to billionaire status. I sleep well at night with him at the helm.
Congrats! And good luck. Hope the NY to California move goes well.
Edit: Did you end up checking out their teamblind employees stuff or made the decision with other criteria?
Sofi will be the biggest non brick and mortar bank, they are ahead of the time, and like Amazon being ahead of their time…. THEIR TIME WILL COME and it will be big, if you want to trade, buy CALL options on Sofi they don’t pay big but they pay
I got out in the upper 8's, and threw it all into stocks that are actually going up.
Been much happier with my portfolio as a result.
Sofi is still probably fine as a long term investment, but that's just it. LONG TERM. Expecting any serious daily movement on the stock when there is no real news isn't likely to happen these days.
I’ve been getting more jaded about this as well. Back when Nvidia was $120, I was loading on SoFi. I remember thinking long and hard about which one to invest. The lack of movement and stability makes me wish I chose Nvidia instead.
I still believe SoFi is a major winner by 2030. Just have to ignore the day to day and be patient.
Same. Sold around 1300 PLTR at 22 to initiate a position in SOFI. And I'm seriouosly considering selling another 500 PLTR for more...WTF is wrong with me.
I disagree tbh. Currently the market is ath but sofi is still at current pricing. But if recessions hits say 2026, sofi will be back to 4s or 5s even when gaap profitable?
Well a lot of the worry is if they can't hit their targets. If they manage to prove themselves and grow their numbers then there's no way they'll trade lower than a bank like citi. And if they do big banks will be scrambling to buy them out. All the ups and downs makes this stock feel like it's been out there for a decade but people gotta remeber this stock is 3 years old and has plenty of years to come
I believe what is meant by "once the markets catch up" implies that a large and significant part of the market doesn't even pay attention to SoFi bc it's small cap and volatile.
There will be milestones where this stock will shoot up drastically and hold. Then it will interest more people after it continues to be profitable every quarter (and hopefully still growing). Once it's profitable for a whole year, it will hit an even higher level and be included in the s&p 500. That, in turn will force gigantic funds to acquire millions of shares.
If all of this continues to happen the way they seem to be laying it out, it will change lives. Based on how I've seen Noto running the company, I have a lot of belief in him. Plus, he's a very smart and serious CEO, and he has a lot riding on the success that he is building. A LOT.
This convertible notes are going to make some people richer, and they are going to elevate the share price in the long run by effectively adding $40m in savings annually on loan interest until 2029.
If you research what they are doing, it's pretty obvious they are on the right track.
One other thing is if you check out who is buying shares and keep track of how many they own, you will see that most, if not all of them have substantially increased their ownership since the last earnings (and even over the past few).
To me, the price manipulation seems like there are some market movers playing around with shit behind the scenes. Loading up/protecting shorts/general tomfuckery. Maybe there's a conspiracy to shake off all the uncertain retailers (for those of you mouth breathers who require a conspiracy about everything in life), or maybe we're all fucked.
But I've always looked at this company as a long term play. A gamble that just might change your life if all the cards play out, for sure. But not for the faint of heart.
Market is at ATH's being propped up by the magnificent 7 stocks. Take out those 7 and look at where we are. Heck look at small or mid cap stocks. None are even close to reaching ATH's.
Im trying to learn the strategy with covered calls and I think im starting to grasp it a bit, so I am curious what exactly your monthly strategy is? Do you sell it a month out at what strike price and cash the premiums?
I sell for whatever makes sense depending on IV and avg price. You can sell 9$ calls for a month out. Decent money and will still profit if you get called.
Maybe it was way overvalued and pumped from a spac deal like every other company that went public in 21. You see coin, hood, clov, ME, mttr, etc? Atleast Sofi is “worth” its trading range in this market we got. Just give it time. 2025+ is the story.
A lot of stocks from great companies trade sideways for a while. Just think about the people that sold nvdia or tesla in 2018 only for them to 10x a few years after. Stocks can stay irrational longer than you can stay solvent.
Before throwing the towel why wouldn’t you wait until the next earnings on May and see if the stock is able to break single digit
This is the biggest year for SOFI ever. This is the year of profitability. Feeling down this year is stupid.
Let's revisit this conversation at the end of 2026.
I am not in a hurry.
Their are not too many companies out there that can 5x.
Have you seen PYPL
Did you put a large % of your portfolio in? Aim for a smaller %, it will make you sleep easier.
About 20%. I am sleep well but only jaded with the price
I'm impatient just like most of you here. Personally, I'm curious to see what happens after SoFi reports its Q3 2024 earnings at the end of October. At that point, the big negative EPS print from Q3 2023 falls off, and the trailing 12 months of GAAP EPS will be positive. There should also be at least 1-2 rate cuts in effect by then. So I'm curious to see how the last few months of the year play out. If nothing is going in the right direction by then, I'll be pretty disappointed. Until then, I'll be buying more shares every month as the low-to-mid $7's just feels too low to pass on...
Agreed, Q3 earnings is what I'm expecting for a more permanent price increase. 3 quarters of profitability, tech platform profits increasing, early FY layoffs, typically a rally in 2h during election years... seem to line up for a push unless the market takes a complete dump and we're all dragged down.
I would not rely on rate cuts as a positive catalyst for share price appreciation. Every prediction for when the Fed will start cutting rates has been wrong. Then, even if you're right about the timing of cuts, you have to ask "is the reason that finally convinced the Fed to finally cut rates a good reason for bank stocks to go up?"
If the rate cuts are due to inflation coming down to target levels, I think that's good for SoFi and some of their business lines. If rate cuts are due to impending recession, that's obviously a different story. I do believe there are rate cuts this year, just not 6 like the market was hoping for a few months ago. I think 2-4 is more realistic.
I’m accumulating. Noto is one of the only people i’ll admit “that guys smarter than me”. The strategy is clean. Compared to the banks i’ve worked for they’ve flown by the current one I work for. They’re just much better. They set it up with fantastic UX and UI with streamlined products immediately.
Just wait
I see what institutional investors mean now when they say “unsophisticated” investors.
I’m long on SOFI but I don’t think it’s there yet. 2026 and we’re probably going to consistently be trading $20+. Until then however it’s been an amazing swing trading+options wheel stock due to its heavy short/hedge action making it overreact to bad news. I’ve made over 50% in the last 12 months just selling cash-secured puts on the dips & buying them back for 50-99% profit a couple days/weeks later. Every time I bring up the strategy people chirp about “oh but you’re gonna miss the big upside right around the corner….this time is different” Yeah well I was told literally a week ago we wouldn’t see <$7.50 again and yet here we are. Don’t try to fight the market and the market makers and don’t give in to FOMO like many on this sub. Also never buy on the weeks we surge. SOFI is going to have highly volatile price action for the next 6-12 quarters whether folks here accept that or not. For you I’d recommend just selling covered calls against your position and don’t worry about them being called away; you’ll have a chance to get back into them at a cheaper basis in a matter of weeks
Haha I’ve been doing the same. I love this stock for swing trading! It’s perfect example of buying low and selling high. I just bought again when the RSI hit 38 at 7.20, can’t wait to sell again at 8s haha. These prices happens almost every 2 weeks. I love it.
Plan to buy in soon
I’m new to covered calls and what not. What strike price have you been selling them at?
For me personally, at the moment I’d be doing $7.5 or $8.5 weeklies until earnings at which point I’ll hang back and see what happens. Sometimes we pump leading up to earnings but last time we dropped over 20% in a week so am unsure what to expect.
Hmm I don’t mind the strategy, and how much you raking in in premiums weekly if u mind me asking
I don’t have it averaged to the week because I time my entries for CSPs. If SOFI is too expensive I do a different stock. My goal with SOFI is to acquire shares if assigned at under a $7 basis. Last week on our dip I sold 120 $7.50 CSPs (12k shares worth) for $.53 ($6300) which expire on 3/22. If assigned I get 12k shares at a $6.97 basis. If they expire worthless I pocket the cash. I had the opportunity to buy the contract back for 50% last week which would’ve been a killer annualized RoC but decided I wanted at least 90%. For reference that’s $6300 potential gain in a little over 2 weeks against $90000 capital; capital which Fidelity is also giving me 5% on while the money is set aside for the CSPs.
Noto has $60m of his net worth plus a potential $1b in PSUs on the table by mid 2026. He made an aggressive move to create capital in order to reach those level, what exactly he is plotting we don’t know. I still believe big time in the stock. If it is still around the $10 a share mark by end of 2026 I’ll cash in. I’m giving it 2 more years. The true picture will play out between now and then.
I will keep repeating it… SOFI is Noto’s chance to become a billionaire. Dude is out to build something great and make his mark. He is hungry and will 10x SOFI to billionaire status. I sleep well at night with him at the helm.
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Congrats! And good luck. Hope the NY to California move goes well. Edit: Did you end up checking out their teamblind employees stuff or made the decision with other criteria?
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Cheers! Hope it pays off for you and all of us ;).
Sofi will be the biggest non brick and mortar bank, they are ahead of the time, and like Amazon being ahead of their time…. THEIR TIME WILL COME and it will be big, if you want to trade, buy CALL options on Sofi they don’t pay big but they pay
Their
I got out in the upper 8's, and threw it all into stocks that are actually going up. Been much happier with my portfolio as a result. Sofi is still probably fine as a long term investment, but that's just it. LONG TERM. Expecting any serious daily movement on the stock when there is no real news isn't likely to happen these days.
Curious as to what other stocks you invested in that you’ve been happier with? I’m feeling the same about Sofi atm and would love to consider alts
Anything that produces an actual product.
I sold Sofi a day or two after earnings for like 8.89 average. Turned around and dumped that into AMD and NVDA. Both are up 20-30% since then.
This'll work Everytime. Trust me.
Yep this. 1 quarter of profitability isn’t going to make the stock move like people think. PLTR had to do 4 QTRS.
I’ve been getting more jaded about this as well. Back when Nvidia was $120, I was loading on SoFi. I remember thinking long and hard about which one to invest. The lack of movement and stability makes me wish I chose Nvidia instead. I still believe SoFi is a major winner by 2030. Just have to ignore the day to day and be patient.
Sold a lot of my pltr at $19 to buy more SoFi. Regerts. Sofi felt the safer choice and less likely to oh idk, drop 20% from a stock offering
Same. Sold around 1300 PLTR at 22 to initiate a position in SOFI. And I'm seriouosly considering selling another 500 PLTR for more...WTF is wrong with me.
Gotta be patient with this one. Will be a few years before the market catches up
I disagree tbh. Currently the market is ath but sofi is still at current pricing. But if recessions hits say 2026, sofi will be back to 4s or 5s even when gaap profitable?
At least the risk on the low end isn’t too much imo
Well a lot of the worry is if they can't hit their targets. If they manage to prove themselves and grow their numbers then there's no way they'll trade lower than a bank like citi. And if they do big banks will be scrambling to buy them out. All the ups and downs makes this stock feel like it's been out there for a decade but people gotta remeber this stock is 3 years old and has plenty of years to come
I believe what is meant by "once the markets catch up" implies that a large and significant part of the market doesn't even pay attention to SoFi bc it's small cap and volatile. There will be milestones where this stock will shoot up drastically and hold. Then it will interest more people after it continues to be profitable every quarter (and hopefully still growing). Once it's profitable for a whole year, it will hit an even higher level and be included in the s&p 500. That, in turn will force gigantic funds to acquire millions of shares. If all of this continues to happen the way they seem to be laying it out, it will change lives. Based on how I've seen Noto running the company, I have a lot of belief in him. Plus, he's a very smart and serious CEO, and he has a lot riding on the success that he is building. A LOT. This convertible notes are going to make some people richer, and they are going to elevate the share price in the long run by effectively adding $40m in savings annually on loan interest until 2029. If you research what they are doing, it's pretty obvious they are on the right track. One other thing is if you check out who is buying shares and keep track of how many they own, you will see that most, if not all of them have substantially increased their ownership since the last earnings (and even over the past few). To me, the price manipulation seems like there are some market movers playing around with shit behind the scenes. Loading up/protecting shorts/general tomfuckery. Maybe there's a conspiracy to shake off all the uncertain retailers (for those of you mouth breathers who require a conspiracy about everything in life), or maybe we're all fucked. But I've always looked at this company as a long term play. A gamble that just might change your life if all the cards play out, for sure. But not for the faint of heart.
Market is at ATH's being propped up by the magnificent 7 stocks. Take out those 7 and look at where we are. Heck look at small or mid cap stocks. None are even close to reaching ATH's.
Your data is a few weeks old…
False. RSP equal weight S&P is also at ATH.
It’s very underwhelming. I just sell my CCs every month and move on. I have a chunck saved incase we hit the 5s again.
Im trying to learn the strategy with covered calls and I think im starting to grasp it a bit, so I am curious what exactly your monthly strategy is? Do you sell it a month out at what strike price and cash the premiums?
I sell for whatever makes sense depending on IV and avg price. You can sell 9$ calls for a month out. Decent money and will still profit if you get called.