SoFi: Gap Closed, SoftBank Out, Load Up
- SoFi Tech. closed the gap at $6.63 after trading above $8 following earnings.
- The fintech could benefit from an end to the student debt moratorium on August 31, but the business model no longer relies on refinancing student debt to prosper.
- The stock trades at just 3x '23 revenue targets which is incredibly cheap for a business growing at a 50% clip.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
In an amazing and surprising move, SoftBank (OTCPK:SFTBY) has followed through with unloading shares of SoFi Tech. () pressuring shares lower. The fintech remains an impressive grower, but SoftBank has other reasons for unloadingpurchasing sharesNu HoldingsNUinvestment thesis
The nearly 8% dip in SoFi today was a gift.