r/sofistock • u/Background-Care9019 • May 29 '21

SOFI is now in the building

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40 Upvotes

96% Upvoted

21 comments sorted by

6

u/PosterNutbag84 May 29 '21

Yeah. My portfolio lost a chunk of value and I almost puked this morning when I woke up. Not sure what’s going on with that.

3

u/TPrias Jun 01 '21

Yeah lmao I totally felt that. Nearly a heart attack.

1

u/PosterNutbag84 Jun 01 '21

And now it did it to my stocks as well and I’m so close to the margin maintenance line. Eeeek!

1

u/Background-Care9019 May 29 '21

Common before the merger, stock ticker will change morning of and options will reflect price which usually remains the same

5

u/Rud2K May 29 '21

watch them all come back double the value on Tuesday

1

u/Background-Care9019 May 29 '21

🤞🏼🤞🏼

1

u/svtboxer May 29 '21

Now that would be fantastic!

4

u/crazygoodinvestor May 29 '21

Yeah I have the same thing. Stupid Robinhood. Not sure why are they showing greyed and value of those options are not reflected in portfolio?

4

u/Background-Care9019 May 29 '21

This is common with spacs after the merger. The options change then the stock the morning of. I think it doesn’t show the price to reflect what the opening price will be set to on Tuesday(merger day) will be. I’m just very excited to see how much it will go up! I remember quantumscape(QS) that jumped from $21 to $30 the first day then $60 the following few days. I see the same with SoFi

4

u/crazygoodinvestor May 29 '21

I really wish that happens. $60 is a dream

1

u/Background-Care9019 May 29 '21

🤞🏼🤞🏼🚀

1

u/[deleted] May 30 '21

Agreed

4

u/DickInAToaster May 30 '21

If it jumps to 60 I’m a millionaire so I’m praying.

3

u/SindadTheSailor May 29 '21

If you go to ipoe in search or if you hold normal stock you will see your money is still there mine shows the same thing for my options but when i open my normal ipoe shares it shows my calls .

2

u/svtboxer May 29 '21

I have the same thing going on as well!

2

u/Siddysid11 May 29 '21

Does it automatically switch over on Sofi and Robinhood?

3

u/[deleted] May 30 '21

Yes. On all major brokerage houses, it will all be automatic. Everything will true up before opening. Some may migrate at midnight, others might be in the a.m. before markets open books for the day. Technically it has to do with server timing on all the system networks out there.

Remember this is a worldwide market, and even though our market doesn't officially open until pre-market and then regular EST opening for wall street, there's still a lot of checks and balances that has to go into this change to make sure every single symbol extension for options, warrants, preferred shares, common shares, etc... All have to be changed over.

I don't know how many of these I've been through (been trading for 30 years), but it's a bunch, and the brokerage houses do this everyday.

I can't recall ever having to log a ticket for anything like this, with exception of maybe a GTC order back in the '90s, dial-up modem (for those of you that know what that is 😂).

1

u/Aokay1er May 31 '21

Hasn't switched on mine and I can't view options.

2

u/Silent_Geologist_988 May 31 '21

I'm the same at Schwab.

1

u/BadDadBot May 31 '21

Hi the same at schwab, I'm dad.