Okay, and your point is what?

Their deposits grew from $1B in Q1 to $7.34B in Q4 with 80% being from members with direct deposit . Oh, I am sure they cry every day for your $25 while they make 1.9% more money from interest on their loans compared to their warehouse facility loans.

Not to mention current money supply just can't support Spy 5000

I'm bagholding 500 shares at like 5.50ish. It hasn't even attempted to retest $10 (with any real strength) let alone teach those lofty analyst price targets of 15-25+. Guess football stadiums aren't the business...until they are. I'll be holding until at least $11, so I'm stuck long term.

SoFi...needs to fly.

It's only at $6 so it's got room to drop.....guess I'll go short.

>while stock based comp is to be expected, it remains an irritation. ~$70m in SBC last quarter alone is crazy.

Not really an irritation, it is insignificant. For one, it is a non cash expense.

And for two, a large portion of that expense is related to PSUs that were awarded after the IPOE process, PSUs with price targets of 25, 35 and 45 (volume weighted average for over 90 days) within 5 years of IPOE. Whether these vest eventually (one or all) doesn't matter one bit, will anyone complain if the stock price is at $45 within the next 2-3 years? Or at $25? If they don't vest then no dilution happens making it pointless.

Sir, this is a Wendy’s.

Something tells me you've never lived through an era with sharp rate hikes. Hint: The market corrects itself and it takes a while.

Have you even looked at their fundamentals? Bankruptcy? How do you invest in a company that you don't understand their fundamentals or financial status.

Let's look at how much money SoFi has, shall we?

As of Q3 2022 (10K is not out yet) SoFi had 10,662,995K unpaid principal on their loans. (page 27 of the 10Q)

Out of all of that, 2,314,950K are from warehouse facilities (page 51 of the 10Q).

Out of the remaining, SoFi also had 5,031,630K deposits (page 4 of the 10Q).

After accounting for both, SoFi had $3.3B of their own money in loans (seeing as there are only 3 sources of money to fund loans).

Now, this is just their own money that is in loans.

This is assuming all deposits are used for loans (which they quite possibly are not), this is also ignoring their cash and cash equivalents of $935mil in Q3 which would include their revolving facility money of $486mil.

​

Now, for them to actually actually head to bankruptcy they have to spend more than they make. But it doesn't really work that way with GAAP accounting because GAAP accounting counts non cash expenses as well, for example SBC expenses.

From their cash flows and my own spreadsheets, Q3 marked SoFi's first quarter where SBC expense is higher than their actual net loss, meaning they are actually increasing their own cash situation. In Q3 the difference between SBC expense and the net loss was about $3mil, in Q4 that difference increased to $30.9mil (while SBC expense was decreasing from Q2 to Q3 and then to Q4).

​

In a later reply I saw you said SoFi has issues selling securitizations, that is plainly wrong.

SoFi literally sold 2 securitizations in the last 4 months (440mil and 340mil) within a day, both receiving AAA ratings from 3 different rating companies. Finsight

The buyers of these securitizations? Bank of America, Cantor Fitzgerald, Goldman Sachs, JPM, US Bancorp, Mizuho, Citigroup and Deutsche Bank. This is on top of them doing whole loan sales because securitizations are less profitable to do. In Q3 they sold $1.08B of loans (value of unpaid principal on them) for which they received $1.1B for (page 35 of the 10Q).

Is it that different though?

Bagholder spotted

Lose

You should get PenFed. They have better rates than navy

Either it is forgiven to not destroy the banking system as a whole from losses on A/R reductions on the BS and the gov pays, driving inflation higher. Or the gov forces people to start paying their loans back and A/R turns into Rev which wii be returnable earning rises …

Holding close to 6000 shares so yes

They are tech based on that they don't have branches but they're still a financial institution. Getting deposits has a cost with it and their loan portfolio isn't really geared towards a higher rate environment.

>Can't do everything (and be good at anything). The market is pricing this stock to reflect its poor management (and vision execution).

Lol, what? They are literally beating estimates and guidance in every report. They grew 52% in 2022. They are literally guiding for GAAP profitability in Q4, moved from Q1 2024.

There are 2 credit cards with no balance transfer fees and promotional interest rates for the first 12 to 18 months on balance transfers. I am currently paying my debt off with the Navy federal credit Union platinum card. You have to be a vet or related to one.

Cause you can’t reach the bottom but you’ll scrape the shit out of the sides

I use Google. It's a rather newly developed distrust(last 3 years)

And I have zero. So I’ve already halved the average. You’re on the high end.

I too am down 60% on SoFi shares.

It’s up 15%+ since the beginning of the year, unless you meant since the beginning of 2022, to which I say, find me a non profitable growth stock that isn’t down, a lot, since then

Carvana is not a reasonable comparable at all

Great film