SOFI a buy right now or nah?

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Hard, hard no for me.

There’s nothing in the chart that says it’s bottoming.

Chamath is radioactive now. And the LendUp blow up will likely bring a critical eye to the rest of the defi space. We’re in the stadium naming rights phase of this scam bubble and that’s usually at or following the peak.

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Like I said below I think cost basis matters even for long term holds. But sometimes you just buy and forget a stock that has solid long term potential. Maybe you do it with a small portion of your portfolio- if it’s all of it then you’re going to be in a world of hurt.

I’ve made money on OSTK over time but was totally out of it last Q3. I got shaken out of my position a coupes times in H2. I finally just bought a half position (about 1% of my portfolio) and said I’d ride it until the NFT marketplace technology is proven not to work. I’ll add more once it starts to bottom, but I have some exposure now.

The position sucks but it’s small enough that it’s not material to my overall portfolio. And this is the only position that gets this treatment. And I have the chance to average down (like a loser…) when the signal strength begins to improve.

OP, if you feel that way about SOFI, then maybe you start the position here but wait for it to go down significantly before buying any more.

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Well this post aged well

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Give it 6-8 weeks

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Don't look now, Microsoft just put out a bid to acquire SOFI at $95/share

Jk. But the stock is way up AH

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Hope you got in after you posted this

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Congrats to those who were long SOFI and especially if you bought earlier this week. Hope it continues to work for you.

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Thx.

You guys don’t think it’s a good long term hold?

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It might be a LT hold. But that doesn’t mean that cost basis doesn’t matter.

There’s a very good chance you can get a better price.

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Sell a put two months out?

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SoFi bank charter approved up 10% AH. Hopefully the the rate hike env will benefit it and it goes to moon.

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That’s huge news for Sofi. Should give it a boost to get above 20 imo

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Yes

No way right now. Catching falling knives is never a good idea. When they are attached to an anvil no way. This is in the PTON camp of great bear trades.

Good potential long term, but will be able to get probably 20-30% lower.

On the bright side, my limit orders just went through lol

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Yes.

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