Nasdaq down 2% and sofi holding $7. I am old enough to have been invested in dotcom and 2008. One thing that is really cool in a Bear market is the “tide” does not lift all boats as in a bull market. Investors seek out value. Many important developments from earnings. Biggest for me is $100m weekly new deposits. $4.5 billion cash on hand Bey is a huge deal. Lending that out at a cost of 1.25% when you were paying 300/400bps is huge. Also a max of $10k forgiveness means $1.4 Trillion still needs to be refinanced. SOFI could see $10/15B in loan volume in 2023 as borrowers rush to refi. 20/25% of them will take other products besides student loans. Sounds crazy but Q4 2023 could likely see a $0.5/20 EPS positive. I am so glad to be holding at these prices.
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