As you know, we predicted that SoFi ($sofi) will be getting the bank charter and got it right. We also predicted that upgrades and higher PT will be coming and they did.
What else did we say? We said more institutional buying. And guess what? Joe Terranova has a position and he has no plans to sell.
What else? We said the squeeze is coming. More than 10% of their float is shorted and the interest level from retail investors is picking up. It’s the 7th most discussed on WSB. Do we expect $AMC or $GME type of price movement? Nobody knows. But we think it’s ripe for a squeeze given where things are.
The last two days, we saw $SOFI price went up as much as over 30% and their volume up about 5x (5,000%). Think we are on crack thinking that the squeeze is coming? Keep following the stock. Only time will tell if we are correct or not.
As we always say, do your own DD before you make any investment decisions.