SoFi Execs are clueless
Why the hell do you offer convertible notes (aka stock dilution) when the stock is near lows. Do this after an earnings bump or something. This company is not investor friendly. Not sure how liveable these wages are for engineers when the stock underperforms. #SOFI #stocks
Retail investors are just stupid is all I can say.
OP if you want a good explanation watch the video on YouTube by “Stock Markets with Bruce.” It’s a great move by management.
uncle Bruce is as legit as anon girlfriend's boyfriend from WSBs
He’s kinda hot
It's usually institutional investors dumping the stock which causes this big drop.
It signals that company is strapped for cash. If it's a good move, then management should explain it better to wall st. Which they clearly did not. Instead they timed it after earnings release, getting lift from earnings news and then the blow back from this news. Bringing the stock back to where it started.
Gonna have to sell a kidney to make my cyber truck payment
Looks like someone had preferred shares and now pretty upset
Sofi had one year of runway since 2023 according to simply wall st.
lol SoFi turned profitable. Read their quarterly report to understand capital ratios etc. it’s adding ~3 billion in deposits every quarter. They are pulling back from lending to move to higher margin tech businesses.
Cause they have to pay their losses and the revenue from this previous quarter is not enough.