Shares of fintech company $SOFI+2.2% are down 5% in pre-market trading after cutting its recommendation from neutral to underperform and target price from $5 to $2.5. The announcement was made by analyst firm Wedbush and the analysis was provided by analyst David Chiaverini, who cuts his recommendation on most fintechs.
Does analyst opinion play a role for you? Or do you not trust some of them and their opinion is irrelevant to you.
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Even after the market closed, news of further purchases by the CEO was released. He is said to have already accumulated 6.5mil pieces. I guess the company's confident, a good sign.
Well that's great news, I'll be buying at these prices.
I follow analyst "estimates" on Yahoo finance for example :)
Sometimes I like to read something, but this particular analyst doesn't seem ok to me, but if he can also influence the stock price, then maybe it's worth watching more:D
It was quite surprising to me how an analyst's opinion can affect a stock price.
Me too :D
He's not an analyst as an analyst, but then I never look much at their views.
Not at all 🫡
Let me ask you what this recommendation really means and why are they giving it to us? Do they have a position there and have to report to us that they are selling it for some reason? They don't have to report anything and they just want to buy it from us cheaper and vice versa?
Sure, it just amazes me how analyst firms move the stock price.
Why was there that movement?;) did they short the stock and sell some bigger block of shares and others joined in or did someone get a stoploss?
Analysts' opinions are irrelevant to me, and even more so in this case. This analyst is statistically one of the worst. 😁
That's right, I looked at it. The worst thing is that even an analyst like this can influence the stock price... I don't understand how that is possible.
Generally with this Sofi, the movements are overly pessimistic. Good results, yet a decline. Now this...
I guess it's a buying opportunity.