Not surprised to see some selling and consolidation today. Certainly much better than those days where we would move up 10% with the Fintech vertical and give it all back the next day. Morningstar posted this yesterday:
No-moat-rated SoFi technologies reported solid second-quarter earnings as weak student loan origination was offset by personal loans and deposit growth that came in well above our expectations. SoFi’s net revenue grew 57% year over year and 9.7% from last quarter to $362.5 million. As we incorporate these results, we do not expect to materially alter our $15 fair value estimate for SoFi.$SoFi Technologies Inc.(SOFI)$
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Nice
L