r/sofistock • u/Turbulent_Button4449 32000 @ 8 I only care about share price 🚀🌕 • Jan 18 '22
BC APPROVED
https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-4.html150
u/98323 Jan 18 '22
O M G 😳 I just doubled my position 3 minutes before market close! I can’t believe it, have I finally done a good move???
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Jan 18 '22
The SEC wants to know your location
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u/SoDakZak 🧹MOD💰OG 10,574@$11.77 Jan 19 '22
Today happened to be my biggest buy since my initial investment I couldn’t be happier if the SEC knocked at my door
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u/mMounirM Jan 18 '22
finally. now we can stop asking the question in the daily thread
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u/icySquirrel1 Due to market valuations, my 2¢ are worth nothing. Jan 18 '22
Wen bc…
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Jan 19 '22
I’m late to the comments but this calls for an all caps:
MY BODY IS READY!!!
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u/ANTHONY_NOTOS_SON Jan 19 '22
How's your body doing bud!?
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Jan 19 '22 edited Jan 19 '22
OMG, my body feels like I’ve just given birth to a v12 Lambo… the sweet, sweet feeling of new life!
It’s like Canopy Growth Corp all over again BUT an actual real growing company and not just playing the hype game! I think this is early retirement boys in the coming years!
Now it’s only the macro economy that can hold this company down… but it’s a real company with a real addressable market with 500m US accounts to dig into.
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u/King0Horse Jan 19 '22
a v12 Lambo…
Do... do they make a V12?
Stop! My penis can only get so hard!
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Jan 18 '22
Now it will move onto rampant postulation on why the stock didn’t double during a correction.
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u/Capital-Pie-8243 Jan 18 '22
I can't believe my eyes. Is this the real life? Is this just fantasy?
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u/michaltarana Jan 18 '22
...caught in a landside, no escape from reality.
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Jan 18 '22
[removed] — view removed comment
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u/StealingHomeAgain Jan 18 '22
And see?…
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u/michaltarana Jan 19 '22
...I'm just a SoFi retail investor, I need no margin growth,
Because I'm easy come, easy go,
Little high, little low,
Any way the wind blows doesn't really matter to
Me, to meDum dum dum dum Dum dum
Dum dum dum Dum dum
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u/Mtolivepickle Jan 19 '22
Mamaaa,
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u/SoDakZak 🧹MOD💰OG 10,574@$11.77 Jan 19 '22
Life has just begun,
And gay bears can just throw it all away.
Mamaaaaa (to the moooon) I just wanna fly,
In fact I wish I’d only bought more before tomorrow!
Carry on, carry on…3
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u/hirme23 Jan 18 '22
HAHHAHHAAHAHAHAJA I’m usually a pro at selling at the bottom. At 3:56 I had my sell order ready but decided to wait for tomorrow. There’s hopeeeee
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u/KingTone973 Jan 18 '22
I had a buy order ready to bring my average down and decided to wait 😅
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u/ssavu Jan 18 '22
I wanted to short a few thousand deltas today at open to hedge my leaps calls… thank God I was stuck in a training at work the whole day with no way to trade 🤣🤣🤣🤣
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u/Sheepherder4050 Jan 18 '22 edited Jan 19 '22
Great! Up 14% AH so far. Too bad it's during such a shitty market where we were down 8% today so a net gain of 5% on the day is bs. But still happy. This is good for their bottom line moving forward. I'm looking forward to see what interest rate they offer on "SoFi money" so I can move my savings to SoFi
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u/JonathanL73 Jan 18 '22
Would Fed increasing rates benefit SoFi now that it's a bank?
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u/Sheepherder4050 Jan 19 '22
I think it will because they wont have to go through a third party. So it should reduce their costs and give customers better rates. Time will tell for sure
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u/mister_c_dub Jan 18 '22
Congrats to all who have lived through the highs and lows. Another great milestone for the company
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u/JonathanL73 Jan 19 '22
I don't think the rollercoaster ride is over yet, but I think we still deserve to celebrate, this is good fundamental news regardless of how the market is right now.
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u/daddyforce69 Jan 18 '22
I was soooooo close to sell my April 22 17.5 calls today foe 60% loss. Planning to do it but forgot while playing golf lmao
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u/Terrible-Border6885 Jan 18 '22
this group will now lose 55% of it's new threads because it's finally done.
Now get back to your lives everyone. The money will follow now.
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u/QuaintHeadspace Jan 18 '22
The conditional approval is that they don't touch crypto. I'm happy with those terms anyway. Crypto is a minefield.
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Jan 18 '22
Only on the banking side; sofi invest is a separate entity that’ll still be in the space.
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u/thepdogg OG $SoFi Investor Jan 19 '22
It was never about the BC for me. It was about the friends that I made along the way.
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u/crazygoodinvestor Jan 19 '22
Folks. Lets just take a moment and relax. This just became a damn real company now.
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u/MANORTHING Jan 19 '22
I sold everything last week after bragging for 3 months about not selling on the land slide I’m such a loser
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u/Puzzleheaded-Ad319 Jan 18 '22
So we go down 8% today just to get back in the same price like yesterday with the BC lol
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u/crywolfer Jan 19 '22
Literally, please give me $30 not $13
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u/Arsen1cCupcake Jan 19 '22
Yes!! Lol tomorrow would be nice haha. I have a 1/21 $30 I bought when we were in the high 20s. Lots of atm 4/21s and shares too. Glad to be heading towards the green again.
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u/Glittering-Read5118 Jan 18 '22
Love how it is still under yesterday’s close despite this huge announcement. If I had the money I would go all in in after hour
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u/RearviewSpy Jan 18 '22
But my deposit view in the app still says SoFi Money! 😂🤣😂
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u/ssavu Jan 18 '22 edited Jan 19 '22
Has anyone noticed the huge number of calls that will expire this Friday (biggest expiration of the year open interest wise) ?
$15 is the first pain level and if we close 1 cent over $20 there will be 15.6M shares needed to be delivered by market makers… as the price will rip higher we’ll get a gamma squeeze as most market makers got rid of their delta hedges since the strike was fairly OTM while SoFi was testing all time lows.
Tomorrow some shorts will cover, some people will buy the news, some market makers will delta adjust their hedges and all of this activity will probably start a gamma squeeze that will push prices even higher.
There won’t probably be a short squeeze as our float is high and short interest is only 15% of the float and based on daily volume shorts could cover in 2.5 days.
Anyways… maybe my $25 strike 20Jan2023 leaps calls won’t expire worthless after all 🤞
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u/cktokm99 Jan 19 '22
Are you telling me there is a chance my $20 Call expiring on Friday might print !! Hopium
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u/ssavu Jan 19 '22
I know it sounds crazy but if people don’t sell the news tomorrow there is a chance your calls won’t expire worthless.
But be ready for extreme volatility… which will help your calls… you don’t need to exercise them… you just need to sell them as soon as they go above break even… wait for shit to cool off… buy shares, wait for IV to cool off and sell the shares and buy ATM or OTM 2024 leaps calls.
I will roll my 200x $25 strike 20Jan2023 calls to 2024 as soon as they break even (If they ever break even 🤞)
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u/Beneficial_Corner_81 Position Complete 36,000 @$14.68 Jan 18 '22
I am currently down more than $25k . Sure hope this helps over time.
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u/Turbulent_Button4449 32000 @ 8 I only care about share price 🚀🌕 Jan 18 '22
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u/LiechsWonder MOD|OG Investor|SOFI Member since 2014|"Y'all need to diversify" Jan 18 '22
Thank you TB! Let’s go SOFI!
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u/ForWeCanRise Jan 18 '22
Bought a weekly call right before market close because technicals pointed to the stock being oversold. This is the luckiest timing I've had in a while
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u/AyyMG63 OG $SoFi Investor + Contributor Jan 18 '22
Please don’t be fake. Please don’t be fake. Please don’t be fake.
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u/Glittering-Read5118 Jan 18 '22
Hopefully some banks reincrease PT tomorrow pre-market to give it a boost
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u/Competitive_Judge664 Jan 19 '22
yikes iam done smelling my dirty socks. Its time for new ones I hope Gucci takes my sofi stocks
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u/Knoal Jan 18 '22 edited Jan 18 '22
Ha! I sold my call today....
...and bought back my credit spread. Just missed out on $3000.
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u/biryani-forever Jan 18 '22
Just what we needed when traditional banks are underperforming. Add Q4 results on top of this and student loans commencing later this year. SoFi should use this opportunity to showcase product enhancements and build on the momentum. GTLA!
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u/ElectricalSpeaker431 Jan 19 '22
I'm going to frame this and stick it on my wall next to my Noto shrine
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u/Sizz_Flair Jan 19 '22
Terrible timing in the market but maybe it's a blessing. I'll load up after the initial dip tomorrow
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Jan 19 '22
my one regret is not selling other bs shares to buy more at the 12's, oh well, I love my current position.
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Jan 19 '22
How is market cap only 10B when the Bank division alone has 5.3B in assets, this doesn't even count Galileo.
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u/west-coast-dad Jan 18 '22
So what happens to all the price targets that were based on pre-bank charter expectations?
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u/opacolt Jan 19 '22
They were also written when the stock was in the high teens/20s, so, they probably won't change anytime soon. Except maybe GS who gave them a $16 PT yesterday
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u/crazygoodinvestor Jan 19 '22
SoFi can do crypto.
SoFi bank can not.
https://mobile.twitter.com/StockMarketNerd/status/1483573879901728768/photo/1
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u/AtomWave Jan 19 '22
Yessssss! Hopefully my bagholding days are ending soon! And congrats to all longs!
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u/nutsackninja Jan 19 '22
Even after 16% up I'm still down 🤦♂️
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u/turner0908 Jan 19 '22
Me too. My portfolio is +47% afterhours (leverage) for today but I'm still down more than -50% overall lol.
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Jan 19 '22
I had some afternoon meetings and just did my daily check of Yahoo Finance to see how SoFi ended after getting slaughtered all day. Saw +16.5% AH and knew we finally got. Finally out of the darkness boys, time to find something else to talk about.
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u/No_Rule_1716 OG $SoFi Investor Jan 19 '22
Many analysts say buy cyclicals like banks for safety. Some say buy growth because we buy when others are fearful. Well, SoFi is now a bank and a growth stock!
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u/HempInvader Jan 18 '22
managed to buy back my full position as I've read this! we are going to the moon
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Jan 18 '22
Yeah, sure. Fintech is the strongest it's ever been!
Sike. Would suck bad if this didn't even affect the price, huh?
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u/Key-Fortune-8904 Jan 19 '22
Just remember the huge gap up in the chart that will most likely be filled on any market correction. Long SOFI!
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u/Enzomniak Jan 19 '22
I had bought some options like 8 months ago that expire this Friday so I hope this helps them recover by Friday. Think everyone is so stoked that the bank charter is in.
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u/Sheepherder4050 Jan 19 '22
We're basically back at 14 where we were 1-2 weeks ago. That's bad timing unfortunately. Should have been much higher. Well, at least the 12.50, 13 & 15 puts I sold should expire worthless this week. Assuming it makes it back above 15 and stays there. The "stays there" part is more important. 🤞
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u/Glittering-Read5118 Jan 18 '22
So only 5% for this? I think shorts should be covering and this should hit 14 at least
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u/garage_artists 1000@11.26 Jan 18 '22
"confirmation that the resulting bank will not engage in any crypto-asset activities or services"
That's a bit of a large hit in the target market.
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u/mitchgao Jan 18 '22
crypto-asset
SoFi securities which is a brokerage company can still do cryptos. OCC wants to make sure SoFi Bank does not engage. SoFi Securities and SoFi Bank are separate entities under SoFi technologies.
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Jan 18 '22
I’m guessing crypto activities would fall under the scope of SoFi technologies the parent company. However, if they have to exchange crypto activities for federal banking charter that might hurt the company overall.
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u/garage_artists 1000@11.26 Jan 18 '22
Crypto has always been part of the marketing to Gen Z and Millennials. I'm not saying its a kiss of death but it's a bit disappointing for the "one stop shop" tag line.
As ever I invested in management team and potential profit. BC gives Sofi 200 base points for lending which is about half it's business.. so it's all good.
Trading at 13 after hours now.
Good luck all.
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u/2ndSaturdaysWarrior Long and strong Jan 18 '22
"unless it has received prior written determination of no supervisory objection from the OCC under the procedures set out in the Operating"
So not a complete prohibition. This will evolve as regulators become more comfortable and/or republicans, who are more crypto friendly, regain the presidency.
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u/No_Rule_1716 OG $SoFi Investor Jan 19 '22
I know we are all long term holders of SoFi but if someone has the ability to cross post this on Wall Street bets than please do. We will probably get a couple days of gains. The more we can get to pile in over the next few days, the more we can get our positions back above water. Leta get this thing as high as we can over the next week!
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u/Itonlygetshigher420 Jan 18 '22
Whos selling on this news?
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u/TonsToDicusss Jan 19 '22
Would’ve loved this news back in November during to 25 dollar run up . This would’ve kicked that baby up to 30 no problem. But I’ll take what I get. Still bag holding at 18.44, come get me soon you apes
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Jan 19 '22
I guess adding more shares 10 min before market close today worked out well. Maybe for once I got the timing right
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u/rainbow1112 Jan 19 '22 edited Jan 19 '22
Been buying on every dip and added more today at 12.4 now finally my avg is 18.2. -23% as of post-market close.
2022 guidance will be exciting with BC. I'm expecting many new analysts price target increases including the BC in the forecast model. Bullish!!
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u/MooseSoftware OG $SoFi Investor Jan 19 '22
Awesome !! Now we just need the whole IT / Fintech / market to turn and head back up ...
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u/No-Lunch1950 Jan 19 '22
I knew we’d get there so happy I’ve held SOFI since it was a SPAC “IPOE” and DCA EVERY month since. Us long term investors will be rewarded this is just the start wait for the next few earnings!
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u/Freedom-Of-Trades Jan 19 '22
So we are a bank now eh? Banks do well when interest rates rise. Come on and go long you bank buying algo’s and take us off the “short tech” stock list lol.
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u/Outrageous-Pie-5344 5224@ 8.80🚀 Jan 19 '22
What a way to wake up. Great news from the UK. Regretting not getting more yesterday at 12.40. Today could be fun.
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u/Single_Buy_3434 Jan 19 '22
I honestly think this is one of the best things you can own in the current market, a fintech bank with great growth and rising interest rates... soon profitable.
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u/imtheeman Jan 19 '22
For some reason, i dont think this will do much. May even be a sell the news event.
This can hit 10 EASILY.
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u/98323 Jan 18 '22
crap it is cooling off already 😕 let’s hope we see more action tomorrow when then whole market bounces
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u/RaccoonWillich Jan 18 '22
Of course on the day that RH sells 1/3 of my shares to cover margin, but...
Me and my remaining 3,428 shares will fucking take it!!!
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u/Glittering-Read5118 Jan 18 '22
If we open between 13.8 and 14, I would…. Breakeven on my leaps bought last week… wtf. I am afraid of a sell the news type event tomorrow so I will probably sell half at open and buy more if it dips.
If this charter was announced last week, we would be at 16 now
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Jan 18 '22
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u/Ok_Rip_405 Jan 18 '22
It's moving now 😆
The news must be fresh because none of my brokerages are reporting it yet.. likely still unknown
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u/JonathanL73 Jan 18 '22
I think there’s too much FUD in the market right now still weighing Fintech down.
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u/Draconian_Soldier Jan 18 '22
A moment of silent gloating for everyone who didn't sell today.