Why has SoFi stock dropped?
Shares of SoFi Technologies plunged more than 8% Tuesday after the fintech said it is buying the banking software provider Technisys for $1.Feb 22, 2022
Is SoFi a shorted stock?
Despite receiving the bank charter, SOFI became one of the most shorted stocks as 21.4% of its shares were shorted as of 2/28/22.Mar 22, 2022
Why is SoFi stock up?
Shares of SoFi Technologies Inc. soared 18% in after-hours trading Tuesday after the financial-technology company exceeded expectations with its earnings outlook.Mar 1, 2022
Why do stock prices keep going down?
By this we mean that share prices change because of supply and demand. If more people want to buy a stock (demand) than sell it (supply), then the price moves up. Conversely, if more people wanted to sell a stock than buy it, there would be greater supply than demand, and the price would fall.
What is the float on SoFi?
The float is the number of shares out of the shares outstanding that are available for public trade. This is known as the float percentage.
Does SoFi pay dividends?
SOFI TECHNOLOGIES (NASDAQ: SOFI) does not pay a dividend.
Is SoFi good stock to buy?
SoFi Technologies is still in the growth stage and there is a lot to look forward to. If the company continues to grow at the current rate, it will be able to impress investors with solid numbers and massive growth. At $10, SOFI stock looks undervalued and is a good chance to take a position.Mar 7, 2022
Is SoFi stock a buy now?
SoFi Technologies stock is a buy because the company will deliver strong revenue growth thanks to its member growth and vertically integrated platform, BofA said Friday. Analyst Mihir Bhatia initiated coverage on the financial services platform on Friday with a Buy rating and a price target of $17.Feb 11, 2022
Is SoFi a good company?
Is the Lender Reputable? SoFi has an A+ rating with the Better Business Bureau, but it is not BBB-accredited. In 2021, the Consumer Financial Protection Bureau received 14 personal-loan-related complaints about SoFi. The most common issues were related to getting a loan.Mar 17, 2022
Do you owe money if stock goes down?
The price of a stock can fall to zero, but you would never lose more than you invested. Although losing your entire investment is painful, your obligation ends there. You will not owe money if a stock declines in value.Mar 8, 2022
Should I buy stocks when they are low or high?
Stock market mentors often advise new traders to “buy low, sell high.” However, as most observers know, high prices tend to lead to more buying. Conversely, low stock prices tend to scare off rather than attract buyers.Feb 9, 2019
Who decides stock price?
Generally speaking, the prices in the stock market are driven by supply and demand. This makes the stock market similar to other economic markets. When a stock is sold, a buyer and seller exchange money for share ownership. The price for which the stock is purchased becomes the new market price.
Key Points
Technisys' cloud-based core-processing systems can support multiple financial products on one core.
NASDAQ: SOFI
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What happened
Shares of SoFi Technologies ( SOFI 2.18% ) had slipped nearly 10% as of 2:03 p.m. ET today after the company announced that it plans to acquire the core processing company Technisys.
So what
SoFi plans to purchase Technisys for $1.1 billion in an all-stock transaction. Technisys develops core banking systems, which help banks carry out their daily operations, whether that is processing a deposit or loan transaction.
NASDAQ: SOFI
SoFi expects the acquisition to generate between $500 million and $800 million of additional revenue through 2025.
Now what
Moving SoFi products over to Technisys' core is a good idea, although SoFi didn't have to buy the company to use its products. However, the addition of Technisys will complement Galileo, a payments platform it acquired in 2020, and increase tech platform revenue greatly.
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