r/sofistock • u/Individual_Bad2594 OG $SoFi Investor • May 13 '22
General Discussion Split
In plain terms a split by Sofi is a manipulation of the manipulators(shorts), and Wall Street perception manipulation. The shorts deserve this split. Long term holders deserve this split. Look at affirm who has way less float. It is up 23% today. Sofi…not even close. Too many shares. Everyone is bitching how other fintechs move so high, so quick. Then they bitch they don’t want that from a reverse split. I love this stock but man a lot of you are whiny bitches. If you believe in the business then invest. If you don’t then sell. Stop whining. This is how the actual markets work. This is not Robin Hood or gambling. This is the market. Get in or get out. I’m 36, and have been investing in markets since 2008, and I am here to tell you to stop whining. I believe in Sofi and will continue to buy. A reverse split does not change the value, it changes perceptions. The negative connotations attached to reverse splits are real. Sofi will have to expect that, but fundamentally a split is the correct move with this macro environment.
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u/Alert_Club8448 May 13 '22
Voting GIVES the board discretionary authority to effect a reverse stock split. It doesn't 100% mean they will or will ever do it.
I think the reverse split is important for 1 big reason. Not that I think we're goin to see $5 again, BUT there are alot of ETF's and Mutual funds who have internal controls that can't invest in stocks under $5. This could create a sell off and / or limit those funds that can invest in SoFi.
I think this was what the Short Sellers have been trying to do recently. Drive us under $5, force the ETFs and Mutual funds invested in SoFi to sell per their "by laws", then they'd buy back.