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SOFI seems to have hit a bottom around $17.25 today... and with PIPE selling exhausted- is ready to move much higher. (and what little selling may occur from employees- is a drop in the ocean compared to retail buyers... considering SOFI has less than 1000 employees).
Cramer just included SoFI as 1 of the post merger SPACs to buy now. SOFI has all buy ratings from analysts- with an initial $30 price target. SoFI also has one of the highest short float % at around 45% (which meaning many Millions of shares have to he bought to cover those short positions).
And with a market cap under $14B, SOFI is extremely undervalued (consider Robinhood going public later this summer around $40B.. likely to be $60B after 1st day of trading). Buying SOFI anywhere near current prices- will definitely be a winner going forward.... and if SOFI gets several days of sustained volume... it is very likely to have a big run/squeeze combo in the immediate future. But its a definite big winner either way. Not to mention a 2 for 1 deal... as Galileo will be worth just as much as SOFI- and an option to spin off in the Future (similar to EBay & Paypal)
Summary of SOFI Becoming a Fintech Behemoth
Fintech is becoming the next big disruptor- and Sofi is being positioned to be the real leader in this category (and currently- the dinosaur banks have market caps of 300B, $450B, etc). Not only is SOFI the only internet bank with the full slate of financial products... they also have Galileo for the platform/ Software fintech play... just look at the top quality leadership team SOFI is attracting... Anthony Noto as CEO.. CFO came from Uber... person in charge of Galileo from Google,etc.
*Overview of Business *
SoFi acquisition of Golden Pacific will make it a national bank, like JPMorgan Chase. This will allow SOFI to take direct deposits & make loans based on those deposits, rather than acting as a re-seller.
Sofi also offers Credit Cards & recently announced it deal to offer auto loans. Also, theres SoFi brokerage, which competes with Robinhood.
Then add to the mix, Galileo, a payments processor (ie Stripe, Square ) it bought for $1.2B. Galileo dominates the Banking-as-a- Service (BaaS) ecosystem. Galileo offers banking platform for over 90% of all digital banks in North America. Over 70% of Top100 Fintechs globally are clients- including Chime and Robinhood.