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Sofistock

$SOFISoFi Technologies has received a lot of attention from a substantial price movement over the last few months, increasing to US$23.89 at one point, and dropping to the lows of US$13.75 It seems Sofi Technologies has be gaining as a platform, and members seem to be growing. The further development of their app and platform should increase user satisfaction and create networking benefits. SoFi Technologies is just starting its journey and will have a lot to prove before it can become what it sees itself as - an automated banking and financial service platform. The last quarter showed some encouraging growth, but should be taken with a grain of salt because it seems to be reflective of current trends for investing and financial distress because of COVID. Analysts are estimating close to $2b in revenue and a break in profitability after 2023. However, the current market cap for SoFi is US$11.8b, which is reflective of the very long term potential of the company. It may be too early to assess if the company can actually reach that potential, and the current valuation seems a bit speculative. But overall, I think this company has an incredible future ahead. When we move to the technical side of things SoFi Technologies has been a little everywhere but it’s currently sitting on strong support on the higher timeframe and should be a level to watch out for. A break of support could see this stock tumble but if it continues to hold, we could see Sofi move towards the $16 level to fill the gap. Keep this on your watchlist.
NASDAQ:SOFILong
by TheBlankFund
SOFI So Good?After plotting the Fib retracement using January's low as the anchor, some really interesting levels started to present themselves...mainly the 786 fib line. Each time it has broken down and tested it, SOFI bounced shortly after. Now that volume is beginning to gain ground, this could get interesting. On top of that you can see that the 618 fib line has also been a technical resistance level this year with SOFI getting rejected more times than it has managed to break and hold above it. Aside from the Social Sentiment being a factor, fintech as a whole has gotten play this year. That's not only for COVID helping advance "social distancing" stocks but also the fact that people just don't want to be bothered by going to a bank if they can do things virtually. "In the second quarter of this year, the U.S. GDP shot up by around 6.5%, indicating that expansion is well underway following the onset of the pandemic. Right now we have to consider the effects of the Delta variant on a reopening economy. In line with this, investors should understand what this means for stocks across the board. With the tech industry, investors remain bullish on the potential impact of the pandemic. As we saw early on in the course of Covid, many tech stocks were able to benefit greatly. The increased need for new tech products and better work-from-home/educate-from-home offerings created a highly bullish environment for the tech industry." Quote Source & Read More: 3 Tech Penny Stocks To Watch In August 2021
NASDAQ:SOFI
by PennyStocks101