![]() colleges and universities saw a drop of nearly 500,000 undergraduate students in the fall of 2021, continuing a historic decline that began the previous fall.” According to new data released Thursday, U.S. “More than 1 million fewer students are enrolled in college now than before the pandemic began. Those who invest in cryptocurrencies tend to be young as well. For instance, since the company has not existed very long (founded in 2011) and specializes in college loans, its customers probably tend to be young. However, some clues suggest it could be a great deal. Sofi does not appear to report how much revenue it obtains from crypto investments specifically. ![]() In fact, in the third quarter, its Invest revenue soared a humungous 197% year-over-year (YOY) to $1.23 million. What’s particularly relevant for SOFI stock here, however, is that the company facilitates crypto trades. That thesis has partly played out, as many, if not most cryptocurrencies are far below their 52-week highs.īut after the Fed’s asset purchases are completely terminated next month, I predict that the value of cryptos will sink around 50%-80% in the next two to three months, causing the lion’s share of trading in them to cease. 4, citing CryptoCompare.ħ Industrial Stocks to Buy As Tech Stocks TumbleĪs I’ve stated in multiple columns since last summer, I expect crypto valuations to tumble as Congress and the Fed withdraw their stimulus. Specifically, crypto trading volume sank “more than 30%” in February versus January, Financial Advisor reported on Feb. The first issue with SOFI stock has to do with cryptocurrency. SOFI Stock: Likely to Take a Big Crypto Hit Here are three recent issues the company is facing right now. InvestorPlace - Stock Market News, Stock Advice & Trading TipsĪll in all, it looks like this is a name to avoid. That’s definitely not helping SOFI stock’s outlook. Additionally, despite its huge declines, its valuation remains quite high. Now, with the company facing three relatively new hurdles and my core bearish thesis on it still very much intact, I think shares of SOFI have much further to fall. The Social Finance (SoFi) logo is seen on a smartphone and a pc screen
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |