Investor remains calm despite 36% to 38% drop in SoFi Technologies and Roku stocks in 2024.
From Nasdaq: 2024-06-28 07:40:00
As an individual investor, the Gardner-Kretzmann Continuum recommends holding as many stocks as your age. With 36 core holdings, including SoFi Technologies and Roku — down 36% to 38% in 2024 — I embrace FOMO and avoid selling prematurely, learning from past multibaggers like Nvidia. SoFi, despite its stock drop, shows promise with growth in its young financial services and technology platforms.
SoFi Technologies experienced a 35% stock drop in 2024 despite exceeding revenue estimates. With a 26% rise in revenue and 86% sales growth in financial services, SoFi is attracting deposits and increasing liquidity for future lending. The company’s focus on profitability and CEO’s stock purchases indicate a potential long-term opportunity.
Roku, down 38% in 2024, offers an appealing turnaround story with a low P/S ratio of 2.2. Boasting 84 million streaming households and a partnership with The Trade Desk, Roku aims to enhance monetization and maximize ad revenue from its significant viewer base. While concerns about free cash flow and profitability persist, the company’s industry-leading reach supports a patient approach for investors.
Read more at Nasdaq: Halfway Through 2024: Why I’m Not Panicking About the 2 Worst-Performing Growth Stocks in My Retirement Account