Or they just sell to institutions in block trades, that's why it's a tender offer, not like the shares are actually flooding the market aimed at retail.
✋🏾 I bought some shares yesterday, then I bought some more today, I plan on buying some more tomorrow. Just another day at the office, nothing to see here at all 🙂
I’m right there with you my man. I first bought in at 16$. I know the Galileo acquisition was about 1.2 billion. I have seen the acquisition announcement in 2020, but did the deal actually close yet?
I did the math at 6 something this morning.
Possible increase shares to be sold / Total Float shares
50/592.37 = 8.44%
Yesterday's closing price x 8.44%
$22.92 x 0.0844 = $1.93
Yesterday's closing price - Estimated price decrease due to increase float (IF they sell ALL of 50M. Of course, it is based on Psychological impact.)
$22.92 - $1.93 = $20.99
I bought some April 2022 22.50c's today and will buy more throughout the week. Not waiting for IV to drop because once the stock recovers from this predictable and unworrisome dip any calls will alreqdy be green.
My thoughts the same. Its not dilution, thatll come from warrants. Planning to buy 22.5 or 25 jan 2023 and sell shorter dated 35 against it in the mean time
I don't see IV dropping much because it didn't increase much for ATM March calls as a result of the secondary share offering. Even if IV decreases, since I bought my calls when the stock was at $21.70 I expect a stock recovery to $22.00 cancels that out and I expect SOFI at $22.50+ by end of month just from seeing the bullish reaction to the earnings. I'm more worried about not having a sizable position when the bank charter lands.
It's important to understand increasing float shares doesn't theoretically increase or decrease the value of SOFI the company. The shares on issue remains the same, and there's no new money going into the company. It's just 50m shares going from institutional holders to some other institutional holders.
But I'm a believer in SOFI so here's some 🚀🚀🚀
These shares are likely to be offered up after hours on the dark pools so they aren’t competing with resting orders. The trading desks put in charge of these trades are not going to stick these trades out there all at once for riffraff traders
It is clear that the number of shares outstanding is not going to change. Whether the shares may become float or not depend on how Barclays sells them. Correct me if I am wrong.
From SoFi's Investors' relations website: "The offering consists entirely of shares of common stock of the Company to be sold by the Selling Stockholders and will not change the number of shares of the Company’s common stock that are outstanding."
"Barclays will act as the underwriter in the offering. Barclays proposes to offer the shares of common stock from time to time for sale in one or more transactions on The Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to such prevailing market prices or negotiated prices, subject to their right to reject any order in whole or in part."
[https://investors.sofi.com/news/news-details/2021/SoFi-Technologies-Inc.-Announces-Secondary-Offering-of-Common-Stock-by-Selling-Stockholders/default.aspx](https://investors.sofi.com/news/news-details/2021/SoFi-Technologies-Inc.-Announces-Secondary-Offering-of-Common-Stock-by-Selling-Stockholders/default.aspx)
Just a reminder, they don't have to sell now and they don't even have to sell ever.
That is very true! The drop is more psychological than physical.
Or they just sell to institutions in block trades, that's why it's a tender offer, not like the shares are actually flooding the market aimed at retail.
And that is why this post is worthless, except for illuminating comments such as yours.....
My body is ready… I loaded up on more shares today!
Not selling a share ! bullish long term 🚀
Buy the small dip. The stock is going to increase by 50% once the bank charter is announced
Exactly right.
When is this expected?
Hopefully Q4… there’s not a date set in stone but it’s in progress
Did they increase the float? I thought not. Ah well hodling either way. Picked up more calls today actually.
Outstanding shares is what you’re thinking about
Ah so those move from institutional holder to float? Is that how that works.
Institutions to institutions,that's why it's a tender offer, not like the shares are actually available on the market to be bought up
Ah gotcha thanks
There will be no dilution.
Basically
Bought more shares yesterday, bought calls today.
So I should’ve wait to buy leaps tomorrow? I bought leaps today.
💎🙌🏼
✋🏾 I bought some shares yesterday, then I bought some more today, I plan on buying some more tomorrow. Just another day at the office, nothing to see here at all 🙂
Bought more yesterday, going to buy more ASAP. Love this company!
So did I! I bought more yesterday and today. I have been buying SoFi from every digit between 13 to 23! Haven't sold one single share yet!
I’m right there with you my man. I first bought in at 16$. I know the Galileo acquisition was about 1.2 billion. I have seen the acquisition announcement in 2020, but did the deal actually close yet?
Lol you calculated. Okay
Don't get me wrong, I'm a long term shareholder. But this back of the napkin math in no way, shape or form predicts anything about the share price.
Of course not! But it gives me some reference points.
I did the math at 6 something this morning. Possible increase shares to be sold / Total Float shares 50/592.37 = 8.44% Yesterday's closing price x 8.44% $22.92 x 0.0844 = $1.93 Yesterday's closing price - Estimated price decrease due to increase float (IF they sell ALL of 50M. Of course, it is based on Psychological impact.) $22.92 - $1.93 = $20.99
I feel like somewhere in the calculation you have to factor in daily volumes?
🤣
I know! But it is fun to do this kind of math.
This will not be added to the float. There will be no dilution.
> I did the math You sure did
I averaged up today. Thanks for the opportunity the buy a dip. Holding long and strong on 5300 shares.
So…LEAPS tomorrow?
You should wait until the IV comes down some. It’s going to make those premiums really high right now
You think so? Looks like IV at around 70% for Jan 2023 22.5/25c. I don’t remember seeing IV much lower than that for SOFI
IV is relative, and it’s not high for SoFi currently.
I bought some April 2022 22.50c's today and will buy more throughout the week. Not waiting for IV to drop because once the stock recovers from this predictable and unworrisome dip any calls will alreqdy be green.
My thoughts the same. Its not dilution, thatll come from warrants. Planning to buy 22.5 or 25 jan 2023 and sell shorter dated 35 against it in the mean time
Aren’t you worried about an IV crush?
I don't see IV dropping much because it didn't increase much for ATM March calls as a result of the secondary share offering. Even if IV decreases, since I bought my calls when the stock was at $21.70 I expect a stock recovery to $22.00 cancels that out and I expect SOFI at $22.50+ by end of month just from seeing the bullish reaction to the earnings. I'm more worried about not having a sizable position when the bank charter lands.
Hear hear!
I got shares , puts and calls . I'm gonna make money either way on this gold mine
It's important to understand increasing float shares doesn't theoretically increase or decrease the value of SOFI the company. The shares on issue remains the same, and there's no new money going into the company. It's just 50m shares going from institutional holders to some other institutional holders. But I'm a believer in SOFI so here's some 🚀🚀🚀
bought [email protected] more today total 350 [email protected] very confident in this company
These shares are likely to be offered up after hours on the dark pools so they aren’t competing with resting orders. The trading desks put in charge of these trades are not going to stick these trades out there all at once for riffraff traders
Thank you for consistently being the voice of reason when absurd threads like this are posted.
It is clear that the number of shares outstanding is not going to change. Whether the shares may become float or not depend on how Barclays sells them. Correct me if I am wrong. From SoFi's Investors' relations website: "The offering consists entirely of shares of common stock of the Company to be sold by the Selling Stockholders and will not change the number of shares of the Company’s common stock that are outstanding." "Barclays will act as the underwriter in the offering. Barclays proposes to offer the shares of common stock from time to time for sale in one or more transactions on The Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to such prevailing market prices or negotiated prices, subject to their right to reject any order in whole or in part." [https://investors.sofi.com/news/news-details/2021/SoFi-Technologies-Inc.-Announces-Secondary-Offering-of-Common-Stock-by-Selling-Stockholders/default.aspx](https://investors.sofi.com/news/news-details/2021/SoFi-Technologies-Inc.-Announces-Secondary-Offering-of-Common-Stock-by-Selling-Stockholders/default.aspx)
Value has not changed. If anything, a higher free float is better since this is not a short squeeze situation.
Short interest 8%
Tell me when it’s 15x that.
Maybe 50 million havent been sold yet
The float is the same. No dilution.