SoFi Technologies Shares Record Gains as Positive Momentum Builds
SoFi Technologies (NASDAQ: SOFI) has seen its shares gain momentum in recent days, with numerous industry leaders hitting new 52-week highs. The stock is up nearly 50% this year, and Jim Cramer, known for his outspoken views on stocks and cryptocurrencies, shared his thoughts on the market.
In response to a question about SoFi on CNBC’s Lighting Round, Cramer stated that he believes investors should stay long on SoFi. He praised CEO Noto’s performance and expressed his continued interest in buying the stock.
X Users Express Pessimism About SoFi
Interestingly, Cramer’s remarks have sparked bearish discussions about SoFi on the X social platform. One user urged others to sell their shares, claiming that SoFi was crashing. Another user requested a source to confirm the situation before deciding whether to exit their position.
Cramer has made some notable misjudgments in the past, including Bitcoin, Nvidia, and Tesla. This has led some investors to adopt an “inverse Cramer” strategy of doing the opposite of his recommendations.
SOFI Stock Price Analysis
As of November 27, SoFi’s stock closed at $7.03 per share, representing a positive change of 2.48% from the previous closing price and a gain of 3.99% over the last five trading sessions. The stock has also experienced a significant year-to-date increase of 56.22%.
Analyst BACH pointed out an interesting pattern in SoFi’s stock, noting falling wedge patterns that indicate potential bullish movements. The analyst believes that despite some lingering gaps and yet-to-be-broken wedge patterns, positive RSI and stabilizing MACD suggest a possible trend reversal and diminishing drawdown momentum.
Hot Take: Cautiously Optimistic About SoFi’s Future
While there may be some pessimistic sentiment surrounding SoFi on the X social platform, it’s important to consider multiple perspectives. Cramer’s positive outlook on the stock, coupled with BACH’s analysis of potential bullish movements, suggests that SoFi may have promising prospects ahead. As always, it’s crucial to conduct thorough research and make informed decisions when investing in any stock.
By
By
By
By
By