2024-03-06 07:00:00 ET
Summary
- SoFi Technologies stock demonstrated a 15% plunge in one day after news regarding new convertible notes offering.
- It looks like the market overreacted since the deal is aimed to improve debt structure of SoFi and replace new notes with instruments with higher interest rates.
- The company continues demonstrating exceptional performance across all key metrics and SOFI stock's valuation is very attractive after the recent dip.
SoFi Technologies investment thesis
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SoFi Technologies: The Market Is Wrong About Convertible Notes Offering