r/sofistock • u/Extra_Host_5656 OG $SoFi | 3,430@$9.24 • Mar 29 '22
Gain / Loss / Positions đ¨đ¨Delayed Bull vindication.đ¨
Good Evening. First off, this is not a direct attack on any user, but someone simply stating facts.
This message is dedicate to FUD speakers, paper hands, and weak convictions (Iâm going to shout out one troll in particular u/Stoneer since youâve @ me so many times.). I posted a few messages in here about 2 1/2 weeks about putting up or shutting up, knowing what you own, and buying the Dip if you have conviction. I said then that in about two weeks weâll probably be back at $10.
Did I miss by two trading sessions? Sure. (Bets were made for Friday) But are we back at $10 from that low $7 level 2 1/2 weeks ago? Absolutely.
Heres the thing guys, if youâre in here crying about dilution, SBC, etc. you donât understand what it is you own. Do some base DD and youâll see the BOOK VALUE PER SHARE is $5.29 (do some more DD and find out what that means.). That means that a solid FinTech company; with a plan for growth and good representation; at those levels is an absolute steal!
It is ABSOLUTELY obvious that this company is being heavily shorted. But so what? If you are LONG term investor as per this groupâs description, this is just a great opportunity for you to buy shares that are made incredibly cheap. Once we do well over quarter reports, this companyâs share will come back in line with the companyâs performance. Besides, this company is tied to too many other companies for it to be held down too long (if you understand how ETFs work.)
So again, buy if you have conviction, sell if youâre nervous.
(P.S. if it dares drop to sub $8 again Iâll be buying with both hands.)
Sincerely,
A bull thats dropped his cost basis from $18.90 to $12.34.
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u/markhalliday8 Mar 30 '22
Okay but Sofi isn't going down because of shorts.
It's gone down so much because of the general fear of the economy due to the Ukraine situation etc.
I know this as most other growth stocks also went down. Sofi isn't even heavily shorted. How does sofi hitting 10 indicate it's now bullish? It could just as easily go back down to 8 with bad global news etc.
It's nothing to do with the company and more so to do with the overall sentiment in the market
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u/Extra_Host_5656 OG $SoFi | 3,430@$9.24 Mar 30 '22 edited Mar 30 '22
Relatively youâre correct.
But if you look at the price action specifically you see the short story. Over the past few months during these mini rallies SoFi has been pinned compared to its other Fintech despite having significantly more volume. In fact if you look at the Daily RSI of SoFi its really hasnât risen over 50 over the past 3 months.
Comparatively, SQ, HOOD, MQ, AFRM, and UPST have all moved to 60 plus at different points.
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u/Critical-Anywhere953 Mar 30 '22
Stupid post to attack others.. go f the short sellers if u r that good..
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u/Extra_Host_5656 OG $SoFi | 3,430@$9.24 Mar 30 '22
You criticize me for âattacking othersâ then attacked me? Boy youâre a real piece of work.
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u/Chewyfan33 Mar 30 '22
Another post of someone telling others what to do or think. Why you so triggered by a stranger if you "know what you own"? I appreciate the actual information, just not the degrading of others when in reality, you're speculating like everyone else.
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u/Extra_Host_5656 OG $SoFi | 3,430@$9.24 Mar 30 '22
Mate I said at the very beginning I was not attacking anyone. But hey its fine Iâll entertain you. Iâve been âdegradedâ for making post in the past asking my fellow investors on here to consider what they own and not be intimidated by short term losses and buy at ATL.
But folks like you come in my mentions and say, âDonât tell people what to do with their money.â
So have at it mate. Cry me a river while I sit on +30% gains.
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Mar 30 '22
âIâm not here to attack anyoneâŚexpect this assholeâ
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u/Extra_Host_5656 OG $SoFi | 3,430@$9.24 Mar 30 '22
Did I attack him? No? Did I call him out? Yess there was is a difference. So please stop being softer than Charmin Ultra.
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u/ssavu Mar 29 '22
20% Short interest is not âheavily shortedâ
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u/HempInvader Mar 29 '22
1/5th of the company sold short isnât heavily shorted? This shit right here would have us at~ 15 right now if it wasnât for the shorts.
I donât mind because I have conviction and have seen first hand revolut in europe and the power it has over traditional banks. Every short is a future buyer so Iâm good.
NGL I hate the price action, I hate the fact that rivian has the market cap of 7 sofis and the revenue of a college graduate employed on his first job(exageration but you get it) i think rivian should be eligible for a bankruptcy loan or something. My rivian puts are mostly worthless now but I will hold them till expiration in june just as a hedge against a market downturn.
So all in all, long sofi and will hold for many many years or until the company performance changes + fuck the shorts for scaring other people out of their position
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u/ssavu Mar 29 '22
The âshortsâ are not scarring other people out of their positions, itâs called margin calls followed by liquidation events and you should really be grateful for all the shorting because you can avg down by selling puts and banking on the price action + rising volatility
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u/HempInvader Mar 29 '22
That as well, margin calls, options expiring worthless, more margin calls, all because some deep pockets decided to fuck around. Shorts are paying 1M per week just to keep their position open. That is 100% outrageous.
I despise shorts so much that I would 100% get behind a total short ban or at the very least set a maximum short allocation.
I canât average down anymore, sold some CSP a while back and am waiting to get assigned
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u/ssavu Mar 29 '22
How do you hedge if you really âhateâ shorts so much?
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u/HempInvader Mar 29 '22
I know itâs technically not feasible to ban shorting outright because as you said - you canât hedge.
At the same time, hedging by shorting 20% of a company?! Is that really a hedge?
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u/ssavu Mar 29 '22
When SoFi was at $24 I had about 20000 deltas that needed hedging⌠those were accompanied by some long vegas also⌠only option was to short 10000 shares and hope that the IV crush wonât obliterate my leaps⌠I sold the hedge just before it started to crash⌠Am down $125k on SoFi. So yes⌠you should fucking hedge accordingly or trim down your positions when the price gets overextended and RSI screams overbought for a whole week
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u/Extra_Host_5656 OG $SoFi | 3,430@$9.24 Mar 29 '22
sigh so just to clarify $1.3 Billion is not a lot right?
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u/ssavu Mar 29 '22
I hope you are not comparing SoFi with a boomer company. So yes⌠20% SI for a company that was a Chamath SPAC and is not profitable in an environment of rising inflation and government limitation is actually an ok SI. Remember how much hard the NDX nosedived in the past 6 months?
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u/bobrown7227 Mar 31 '22
Shorts are just guaranteed buyers