SOFI: Not enough interested buyers
I know there's a lot of investors out there that are hard for Sofi. I can appreciate that passion. Which is why I don't share this excitingly.
I can't see any reason from a fundamental story stand point why this stock will be performing well this second half of the year, as it continues to break down.
Banks don't demand a higher multiple. Unless there's serious growth that tells investors to look at it differently. One can argue that Sofia has a moat in its operating software utilizing AI. That said, literally any bank can do the same and are doing the same. Many have online platforms with virtual assistants and flexible loans and offerings. It can't be propped up by its trading platform, as Robinhood's dominance in the market draws from this thesis.
After a break from the current pattern, I believe we'll see 4.50. Would be a good buying opportunity for those going long.
No trade advise here. Best of luck!
Technicals to note:
🇺🇸❤️
I can't see any reason from a fundamental story stand point why this stock will be performing well this second half of the year, as it continues to break down.
Banks don't demand a higher multiple. Unless there's serious growth that tells investors to look at it differently. One can argue that Sofia has a moat in its operating software utilizing AI. That said, literally any bank can do the same and are doing the same. Many have online platforms with virtual assistants and flexible loans and offerings. It can't be propped up by its trading platform, as Robinhood's dominance in the market draws from this thesis.
After a break from the current pattern, I believe we'll see 4.50. Would be a good buying opportunity for those going long.
No trade advise here. Best of luck!
Technicals to note:
🇺🇸❤️
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