 Boom What's up money geeks mr. V here welcome to another video guys so in today's video we are going to talk about Sofi ticker symbol s o f I This is a fintech Company that we've covered here on the channel I currently own the stock and there's been some movement in the stock and we watch today There's been a pop in the stock So I wanted to cover that and then we'll talk about where we see this thing moving forward Before we get to the guys feel new to the channel we took about how to earn money how to save money how to invest and build Well, so you have something that interests you go ahead and hit that subscribe button and your notification bell So you don't miss out on new content. So when it comes to so far again, this is a company that I've talked about here The product base from a fintech standpoint They are getting into pretty much everything from loans to refinancing Just to money management investing So they have this holistic picture of your money and they are getting into insurance So pretty much everything banking, which is one of the things that we're gonna talk about today So I love the company. I love where they're going as a matter of fact again I do own the stock at own an account with them and so just for just for transparency I'm gonna fill it with them. So if you want to check out so far I'm gonna put the links in the description below so you can definitely go go check them out So use that link and then you probably get like 10 bucks or 15 bucks of signing up So when it comes to so far if you look at the product base here So you can invest in so far you have personal loans or you can apply for you have student loans You can refinance you can do so fine money management You can do home loans credit card private student loans insurance credit card and other loan refinancing The one thing that you don't see on here right now is their banking because right now what's happening with so far is that Just from a learning standpoint. They have to deal with license from all 50 states They have to address license in all 50 states or the 50 states have different laws They have to worry about that So they are so moving into applying to get a license to operate as a bank At that point that they're gonna kind of streamline their operation because they're gonna be regulated by the FDIC The OCC and so things are gonna get a lot easier for them instead of dealing with 50 different states Regulations not they only get to deal with the Federal Reserve the FDIC and the OCC so to me that is a Path that once they get to that point You're gonna see them operate even more efficiently and they recently just hired Somebody that's gonna come in I think Galileo That's a guy's name to come in and help them is setting up that banking part of their business So I think once this goes through once they get a proof you're gonna see this stock Stop making some really good moves. So if we take a look at the news here Analysts at Jeffries actually initiated a buy call for so far. And so they are looking at a price target about $25. So this is this is crazy Again, if we can switch over here to CNBC the same thing. So looking at search More than 60% so again, I was told you guys that this thing to me when you got down to $15 it was always a buy more in that zone because if you look at it of that around that $15 is always been support for for for so far. So I like that $15 price point if you can buy there keep buying again This is for a long term if you want to swing it I would say it's you might wait a little bit and see if it's a little pullback before you can jump in I don't like buying right now when the thing is running to the upside You want to be in it when it's running not when It is already running. So for people that are looking to jump in I'll say if you take that risk Put a really tight stop But if you're looking to buy long-term wait for a pullback This thing is gonna come back again to you wait for that pullback and can start to load up So we just look at the chart here. You can see here It opened up today at about $15 and some change and then squeeze up. We've seen a high today over about 1680 which is I mean again, that's about a dollar Let's see rate a dollar 54 for a spread. So I think so far for people that treated it today I mean you should be in the money, which is which is awesome so again, just a recap here the reason why so far is popping today is because Jeffrey's analysts at Jeffrey's actually initiated a buy call with a price tag of $25 and so when people see that When Wall Street see that they get excited. That's what the stock jumped But I'm also looking bigger picture here and not just focusing on the short term here I'm looking at bigger picture here The big picture here is that so far is really Establishing himself and they're moving to the point where they've hired somebody that's gonna come in and take them to that next level Which is actually Applying for banking license and the fact that they're hiring somebody that has the Expertise that tells me that they're confident that they're gonna get the license to operate as a bank And if they do that It's gonna streamline the business because they're gonna go from being regulated by 50 states As far as their lending and the loans go to now being regulated by mainly three authorities the Federal Reserve the FDIC and the OCC Which is gonna make things a lot easier for so far as a company and also the one other thing that you should be aware of By being a bank so far will be able to hold more loans on its balance sheet And at this point they currently have or a limit as to how much loan they can hold on the balance sheet Once they become a bank that goes away again gives them more Opportunities I like that coming from so far again guys. This is something that I want you to be aware of This is a long-term play for me. I Look at the dips and I buy the dips and I continue to build that position if you look in the swing It's always good to buy when it hits those levels the support That's where you jump in and then if it's a spike you take some profit if you're swinging I hit jumping into a swing trade when the stack is already moving So if you if your idea is just to get in and make some quick profit, I'll probably say pump the brakes Don't do it again. That's my personality here because I'm based on my experience That's always you can this thing can reverse tomorrow You have no idea all can even pop but don't just do it because you're following momentum Do it because you understand the fundamentals if this thing is treating right that support you look at support You see hey each time you hit support it bounces back there You can start loading up off of that support, but then if it's already bounced already If you go in get it really really tight Stop lots that way you don't lose money in the trade and even if you lose money you really minimize your losses So that's something I want you to be aware of so again Let me know in the comment section what you think about is are you currently in so far do you plan and get it in? Are you swinging a long term holding? What's your strategy again? Let me know in the comment section if you're new here We took about how to earn money save money invest and build wealth We got something that interests you go ahead and hit that subscribe button and your notification build So you don't miss out on your content also guys if you're looking to get settled investing We both has their promotion where if you sign up you get free stocks So far has promotions to where if you sign up for their so far money or so far invest So far crypto you get free stocks I put both of those links in the description below and as always guys Do your due diligence don't be a greedy savage stay motivated You