$SOFI - RC -
Added 2023-05-02 18:18:30 +0000 UTCEarnings today and it was a double beat but the timing could not have been worse for $SOFI, the regional banks are having a catastrophic day and $SOFI is embroiled in this. The earnings were good but there is some concerns as there is certainly a lull in loan sales, this is to be expected when interest rates are high, this is why the Fed raises rates, to stop borrowing and to slow down the economy....$SOFI can not escape this and this is also why I urge caution around buying finance stocks.
If you like $SOFI as a long term hold, be sensible here and take your time, wait for some sideways movement at least. Regarding the chart, it is crucial that the blue line is held now at $4.26 as I said yesterday. A new low could trigger a lot more downside.
