SoFi Stock: Are Redditors Buying The Dip After $750M Debt Offering
SoFi Technologies Inc (NASDAQ:SOFI) stock experienced a 15.27% drop on March 5, following the announcement of its convertible senior notes offering, aiming to raise $750 million.
The stock is seeing some recovery in pre-market trading today. Redditors, however, are discussing whether investors should buy-the-dip?
Related: SoFi Technologies Prices $750 Million Convertible Senior Notes Offering Due 2029
Buying Sofi on this dip
byu/Didntlikedefaultname instocks
The news sparked discussions among Redditors, particularly in response to a post titled “Buying Sofi on this dip” by user Didntlikedefaultname on the r/stocks subreddit.
With Sofi’s recent earnings showing promise, the market’s response to both post-earnings surges and convertible note offerings has stirred varying opinions among Reddit investors.
Redditors’ Perspectives
- SOFI Shuffle:
- User doggz109 suggests a buy at $6 and a sell at $9, referring to it as the “SOFI shuffle.”
- Long-Term Hold:
- Valsalva64 shares their experience of gains evaporating but sees Sofi as a reasonable long-term hold.
- Positive Outlook:
- Digital-Panda foresees potential for Sofi to jump to $12 the next time it hits $9.
- Confidence in 2024 Projections:
- Birdperson15 expresses agreement with the buying opportunity, citing promising 2024 projections and the potential for 50% growth.
- Volatility Concerns:
- ironcladjogging points out Sofi’s volatility, expressing concerns about marketing expenses and the overall ride becoming wearisome
