SoFi Daily (Jan 23, 2025)

Jan 24, 2025

🚨 We just launched the official SoFi House - Share Count Tracker

GOAL is 1% of total company ownership. Join the Discord and send a screenshot of your share count to @jonathanrstern

SOFI climbed +2.50% to close at $18.03, continuing its upward trend and bringing monthly gains to over +12%.
The SEC officially rescinded SAB 121, allowing banks like SOFI to custody crypto
- What does this mean?
- Previously, SAB 121 forced companies to put their customers' crypto on their own balance sheets, inflating risk and capital requirements. Now that it's been rescinded, SOFI should be able to once again offer crypto services without ballooning its books
JP Morgan reiterated its hold rating for SOFI and maintained its $16 PT
Strong investor interest is evident from ongoing discussions about SOFI’s improving user growth and the potential introduction of crypto services. Despite a recent bearish analyst call targeting $6, the stock quickly rebounded, indicating resilience and strong institutional demand.
Long-term holders continue to view SOFI as THE next-generation bank poised for continued expansion, while short sellers cite valuation concerns and negative free cash flow history.
Momentum near multi-year highs suggests bullish sentiment is dominating, supported by SOFI’s steady membership growth, product cross-selling, and anticipation of a solid quarterly report. However, a few analysts remain cautious due to macroeconomic uncertainties and higher interest rates.

Earnings are scheduled for Monday morning (January 27)
Investors will be watching closely for updated user-growth figures, profitability milestones, and any announcements on new product rollouts (including potential crypto services) 🤑