Cathie Wood Is Buying Up SOFI Stock

InvestorPlace2023-12-01

Despite some promising news, shares of SoFi Technologies (SOFI) stock trended lower in today’s afternoon session.Cathie Wood bought another $1.5 million worth of SOFI stock, bringing her holdings to ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1155215890?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-12-01 21:41","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1155215890","market":"us","top_or_hot":-1,"title":"Cathie Wood Is Buying Up SOFI Stock","media":"InvestorPlace","content":"<div>\n<p>Despite some promising news, shares of SoFi Technologies (SOFI) stock trended lower in today’s afternoon session.Cathie Wood bought another $1.5 million worth of SOFI stock, bringing her holdings to ...</p>\n\n<a href=\"https://investorplace.com/2023/11/cathie-wood-is-buying-up-sofi-stock/\">Source Link</a>\n\n</div>\n","source":"investorplace_stock_picks","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Is Buying Up SOFI Stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Is Buying Up SOFI Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-01 21:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/11/cathie-wood-is-buying-up-sofi-stock/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite some promising news, shares of SoFi Technologies (SOFI) stock trended lower in today’s afternoon session.Cathie Wood bought another $1.5 million worth of SOFI stock, bringing her holdings to ...</p>\n\n<a href=\"https://investorplace.com/2023/11/cathie-wood-is-buying-up-sofi-stock/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SOFI","symbol_name":"SoFi Technologies Inc.","start_time":0,"source_url":"https://investorplace.com/2023/11/cathie-wood-is-buying-up-sofi-stock/","article_id":"1155215890","we_media_id":null,"thumbnails":[],"rights":{"source":"investorplace_stock_picks","url":"https://investorplace.com/2023/11/cathie-wood-is-buying-up-sofi-stock/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1155215890","pubTimestamp":1701438089,"columns":[],"sourceInfo":{"source_id":"investorplace_stock_picks","name":"InvestorPlace stock picks"},"weMediaInfo":null,"summary":"Despite some promising news, shares of SoFi Technologies (SOFI) stock trended lower in today’s afternoon session.Cathie Wood bought another $1.5 million worth of SOFI stock, bringing her holdings to m","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SOFI":"SoFi Technologies Inc."},"translate_title":"凯西·伍德正在收购索菲的股票","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SOFI":1.1},"content_text":"Despite some promising news, shares of SoFi Technologies (SOFI) stock trended lower in today’s afternoon session.Cathie Wood bought another $1.5 million worth of SOFI stock, bringing her holdings to more than 1.7 million shares.SoFi’s decision to exit its crypto business completely may have something to do with this transaction.Source: rblfmr / Shutterstock.comCathie Wood has recently been among the busier active managers, shifting her portfolio around. Her moves are worth following for growth investors, as she’s picked some of the most prescient mega-trends in the past. SoFi Technologies (NASDAQ:SOFI) has been a stock Wood has bought and sold, but her recent decision to buy $1.5 million worth of SOFI stock is generating a lot of buzz today.Unfortunately, the broader tech sector is deep in the red today, and SOFI stock is no different, dropping more than 2.5% in early afternoon trading. Thus, it’s hard to gauge how the market is reacting to this move as an independent catalyst.However, it’s worth noting that Cathie Wood’s purchase decision coincided with SoFi’s decision to exit the crypto game altogether by the end of the year. Wood’s various actively managed exchange-traded funds (ETFs) have been accumulating shares of SOFI stock for some time, with recent estimates being that her funds now hold more than 1.7 million shares of the fintech company.Let’s dive into what investors may want to make of this news today.SOFI Stock Is Down, Despite News of Yet Another Cathie Wood PurchaseWhat’s interesting about Wood’s recent decision to add to her position in SoFi is how this move coincides with other transactions of late. Notably, Ark Invest sold another big chunk of Coinbase (NASDAQ:COIN) stock in a move that appears to choreograph a strategy of shifting away from having too much exposure to crypto and blockchain-related companies.To what extent SoFi’s move away from crypto influenced Wood’s purchase decision is unclear. But this move, alongside her Coinbase sale, does add to the narrative that perhaps many institutional investors aren’t yet ready to load up on digital assets and related companies.Another aspect of this transaction I think is worth reflecting on is the sustained nature of Wood’s purchases. With SoFi stock appearing to consolidate around the $7-$8 per share level, perhaps Cathie Wood views this stock as a longer-term hold. If so, value investors, and those in this stock for the long-term may take solace in these moves.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":8,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.13","shortVersion":"4.35.13","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1155215890","isCrawlerRequest":true}