Shares of SoFi Technologies Inc. ($SOFI) experienced notable volatility following its recent earnings report, with the stock breaking above key resistance levels such as the August value area and holding above $22.40. Market participants noted a potential breakout toward a 'blue sky' scenario, indicating an optimistic outlook for continued price appreciation. Despite a commonly observed post-earnings decline pattern known as the 'Sofi fade,' the stock demonstrated a slow and steady rise with stable buying interest. Over the past three months, SoFi, along with LendingClub ($LC) and Citigroup, ranked among the top-performing banks, benefiting from favorable market conditions influenced by the U.S. presidential administration. Additionally, SoFi's technology segment has outperformed Bitcoin by a factor of three over the last twelve months. Meanwhile, Chinese banks have outpaced the Nasdaq over the past year, supported by substantial liquidity injections totaling 10 trillion yuan by China’s central bank year-to-date, despite ongoing deflationary pressures and a cloudy growth outlook. This environment has created investment opportunities amid weak fundamentals in Chinese markets.
$SOFI did the famous Sofi Fade today. But… I’ll take a slow and steady rise from earnings over a parabolic move if it means the gains hold. So far, this post earnings performance has shown stability and strong buying even after the offering slowed its ascent. Long for a
Chinese banks outperforming Nasdaq over last one year (… secretly waiting for the first “take the chart back further comment” 😂) https://t.co/417yULWt5I https://t.co/q8JdF60VGc
China’s central bank injected 10 trillion yuan liquidity into the system YTD. While deflation persists, and growth outlook clouded without further stimulus, Chinese markets have been rising despite weak fundamentals. Opportunities abound. With @cnbcSri https://t.co/9V3rtqcaG3 https://t.co/8ThXJmImud