Back to Blog
When Silicon Valley Bank collapsed, I was advised to sell my bank stocks. I do own shares in a couple of different banks, but these are banks that I plan to own for quite a while. I felt no need to sell my shares of certain banks when they have nothing to do with Silicon Valley Bank. While bank stocks did fall after Silicon Valley Bank's collapse, they recovered very quickly, and buyers were able to make a lot of money. Now, bank stocks are once again falling, and I believe I will be able to make a lot of money by buying certain banks at these prices.
One of my favorite stocks, SoFi, has fallen to under $5 a share. I wrote a small post about this on my members only investing community - www.patreon.com/posts/sofis-stock-has-82513164?utm_medium=clipboard_copy&utm_source=copyLink&utm_campaign=postshare_creator&utm_content=join_link. Honestly, I thought SoFi was already trading at a ridiculously low valuation, but it has now gotten completely insane. SoFi is a strong company. They recently had their latest earnings report for the first quarter of 2023, and they are growing very quickly. This is a no brainer stock, in my opinion, and I can't believe how lucky I am to buy this stock at these prices.
Another one of my stocks, Ally Financial Inc., is down around 7% over the last 5 days. I'm not really worried about this company either. They're a strong company, and I am pretty positive that I will make a lot of money holding this stock. I will likely be buying a lot more shares of this company as well.
I understand a lot of people are worried about a wide scale bank collapse right now, but I am really not that worried. There has been a surprising amount of bank failures this year, but I am happy with the bank stocks I do own. Even crypto has been getting attention lately as an alternative to banks.
Join my $5 a month investment club at www.patreon.com/financebycwt.
0 CommentsRead More
Leave a Reply.