☀️ SoFi smashes earnings

and the right time to invest

Good morning investors! Earnings optimism seems to be pushing stocks higher.
 

Today we cover:

  • Flutter Entertainment is now on the NYSE.

  • SoFi smashes earnings.

  • Invest now or after the elections?

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🔈 Audio version: Apple Podcasts | Spotify | YouTube

📊 Economy and News 

The New York Stock Exchange has a new entrant

FanDuel parent company Flutter Entertainment is now a part of the New York Stock Exchange (NYSE).

The online sports-betting company is trading as a secondary listing. It has been present on the London Stock Exchange since 2019 under the ticker FLTR, but has plans to make NYSE its primary home.

LSE is fast losing its position as investors appear to be moving elsewhere. It has been dealing with depressed valuations, especially since Brexit, which might push even more companies to turn to the US.

The company’s US-listed shares, which are being traded under the ticker FLUT, were up 1% to $207.10.

The business, however, isn’t completely new to the US market. Its American depository receipts (ADR) have traded over the counter under the ticker $PDYPY for years.

Global hits:

📈 Stocks

S&P 500 4,927.93 (+0.76%)
DJIA 38,333.45 (+0.59%)
NASDAQ 17,596.27 (+1.01%)
BRENT CRUDE 82.48 (-0.02%)
* Prices as of Jan 30th, 12:20 AM UTC

SoFi delivers its first-ever GAAP profit

SoFi Technologies rallied 20.2% Monday after the stock handily beat expectations with its earnings report.

The numbers: The company reported $0.02 per share, topping last year’s $0.05 per share loss and analyst expectations for a breakeven quarter.

Adjusted net revenue jumped 34% YoY to $594.25 million, higher than the expected figure of $572 million.

Going big: The company noticed a huge growth in demand with personal loans jumping 31%, student loans increasing by 95%, and home loan origination volumes rising by 193% YoY.

Future plans: SoFi is seeing 2024 as a ‘transitional year’ as it focuses on the technology platform and financial services segments. The CEO in the call asked investors to pay less attention to ‘lending’, a segment the company sees shrinking in the future.

Shall I invest: In the Pro, we called SoFi a buy only when it turns profitable. We think it might be a good idea to wait for another quarter before investing in this company as there are challenges ahead.

Analysts are giving a higher target to the company but with the lending business expected to shrink in 2024, we think it’s too early to bet on this horse.

Reminder: iRobot shares fell another 8% after Amazon officially called off its planned acquisition, saying there is “no path” to regulatory approval

Also, Netflix co-founder and executive chairman Reed Hastings has gifted two million shares of the streaming giant, according to a regulatory filing, with a current value of more than $1.1 billion. Furthermore, BYD believes that the race for China’s EV market could last 3 years. The company says it is interested in working with Tesla.

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Instead of keeping up with the Jones’, keep up with technology.

🔐 Crypto

Bitcoin $43,379 (+0.17%)
Ethereum $2,309 (-0.34%)
Total market cap $1.66T (+2.54%)
* Prices as of Jan 30th, 12:20 AM UTC

A look at crypto

Here’s what’s happening in the industry:

💵 Personal Finance

Should I invest now or after the elections?

Firstly, let’s be clear that elections only have a short-term impact on stocks and things usually get back to normal in a few months. This makes it interesting for people looking for short-term goals, but people who are in it for the long haul need not change their strategy based solely on elections.

Also, deciding the right time to invest in this time can be a little tricky because we don’t know where the market is heading. The key lies in being a smart investor and choosing your portfolio carefully. Here are a few tips to remember:

  • Use dollar-cost-averaging to benefit from the situation.

  • Have a diversified portfolio so you can stay safe even if one industry doesn't offer your desired results.

  • Focus on long-term investments and don't let short-term fluctuations worry you.

  • Benefit from the current high interest rate environment and choose high-yield savings accounts to be on the safe side.

  • Get in touch with a financial advisor and get a customized solution according to your financial goals.

We think this video can be a great watch for people looking for an answer:

💰 Be a Better Investor

"It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for."

Robert Kiyosaki

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