Aug. 12 at 10:47 PM
$SOFI I wouldn't even classify it as "highly dilutive", though I guess it technically was. But unlike a shelf or ATM offering, where the companies dump onto the open market, this capital raise was done with almost entirely 1 entity: Jane Street. They alone bought 62 million shares at nearly
$21 (the post-dilutive market price at the time). Imagine their conviction, as they bought 62 million shares at the market rate after earnings.
This alone tells you a lot. Add to that the many upcoming catalysts: Crypto launch,
$MSCI inclusion (forced buying in 2 weeks), rate cuts, possible
$SPY inclusion, and of course, the CEO gets ~
$300M if he gets the stock price to
$45 within 7 months. Nobody is more motivated than him to get the stock to
$45. That's a bet I'm happy to be in.
