SOFI: Hot Take
People are betting Sofi goes positive after FED drops rates. First off, the technicals show the stock doesn't look ready to fly yet.
1) They MAY not start in September. Everyone sells if that's the case.
2) IF they begin in September. The pace in which the FED drops rates is typically slow. .25bps to start is not going to be enough to make any significant positive moves in the stock price. I believe it will be a sell on the news event seeing as we're pricing in the benefit of a rate cut already.
Short term, I believe we remain on on trend, or down and to the right 📉
It's just a bank.
1) They MAY not start in September. Everyone sells if that's the case.
2) IF they begin in September. The pace in which the FED drops rates is typically slow. .25bps to start is not going to be enough to make any significant positive moves in the stock price. I believe it will be a sell on the news event seeing as we're pricing in the benefit of a rate cut already.
Short term, I believe we remain on on trend, or down and to the right 📉
It's just a bank.
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