Have you even looked at their fundamentals? Bankruptcy? How do you invest in a company that you don't understand their fundamentals or financial status.

Let's look at how much money SoFi has, shall we?

As of Q3 2022 (10K is not out yet) SoFi had 10,662,995K unpaid principal on their loans. (page 27 of the 10Q)

Out of all of that, 2,314,950K are from warehouse facilities (page 51 of the 10Q).

Out of the remaining, SoFi also had 5,031,630K deposits (page 4 of the 10Q).

After accounting for both, SoFi had $3.3B of their own money in loans (seeing as there are only 3 sources of money to fund loans).

Now, this is just their own money that is in loans.

This is assuming all deposits are used for loans (which they quite possibly are not), this is also ignoring their cash and cash equivalents of $935mil in Q3 which would include their revolving facility money of $486mil.

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Now, for them to actually actually head to bankruptcy they have to spend more than they make. But it doesn't really work that way with GAAP accounting because GAAP accounting counts non cash expenses as well, for example SBC expenses.

From their cash flows and my own spreadsheets, Q3 marked SoFi's first quarter where SBC expense is higher than their actual net loss, meaning they are actually increasing their own cash situation. In Q3 the difference between SBC expense and the net loss was about $3mil, in Q4 that difference increased to $30.9mil (while SBC expense was decreasing from Q2 to Q3 and then to Q4).

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In a later reply I saw you said SoFi has issues selling securitizations, that is plainly wrong.

SoFi literally sold 2 securitizations in the last 4 months (440mil and 340mil) within a day, both receiving AAA ratings from 3 different rating companies. Finsight

The buyers of these securitizations? Bank of America, Cantor Fitzgerald, Goldman Sachs, JPM, US Bancorp, Mizuho, Citigroup and Deutsche Bank. This is on top of them doing whole loan sales because securitizations are less profitable to do. In Q3 they sold $1.08B of loans (value of unpaid principal on them) for which they received $1.1B for (page 35 of the 10Q).