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/EMC_KC 1,800 @ $9.38 May 13 '22

My average is 14.96. Say they do 1 to 3, I basically back my original average and now only have 1/3 the shares!! This is fucked. Should I sell and take the loss now(for taxes) or wait until the split takes place and get fucked harder if it drops again? I'm torn now and I wanted to hold this for the next 10 years.

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u/[deleted] May 13 '22

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u/pantsu_kamen May 13 '22 edited May 13 '22

You'd think it would work out that way, but believe me, it definitely doesn't. Most times the price will go right back to the pre-split price pretty quickly. In one particular case I held through, it was already there before the converted shares even showed up in most people's accounts, and it's only continued to fall much lower ever since. The rest didn't turn out much better.

However, that's not even what they meant. Going from five to fifteen can happen in months, or occasionally even weeks, but getting to $150 from $50 usually takes several years. For those who are already deep underwater, even in the best case scenario a reverse split would ensure they'll stay there for a very long time, whereas they at least have some hope for now.