Market cap of Social Capital Hedosophia Holdings Corp. VI [IPOF] reaches 1.43B – now what?


Social Capital Hedosophia Holdings Corp. VI [NYSE: IPOF] loss -0.40% or -0.04 points to close at $9.97 with a heavy trading volume of 7704551 shares. The company report on May 28, 2021 that Social Capital Hedosophia Holdings Corp. VI Receives Expected Notice from the NYSE Regarding Delayed Filing of Quarterly Report.

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On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the U.S. Securities and Exchange Commission (the “SEC”) together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (‘SPACs’)” (the “SEC Staff Statement”). As previously disclosed, given the scope of the process for determining the appropriate accounting treatment of its outstanding warrants in accordance with the SEC Staff Statement and Accounting Standards Codification (“ASC”) 815-40, Derivatives and Hedging: Contracts in an Entities Own Equity, Social Capital Hedosophia Holdings Corp. VI (“the Company”) was unable to complete and file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021 (the “Form 10-Q”) by the required due date without unreasonable effort and expense.

On May 25, 2021, the Company received a notice (the “Notice”) from the New York Stock Exchange (the “Exchange”) indicating that, as a result of not having timely filed the Form 10-Q with the SEC, the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual (the “Listing Rule”). The Listing Rule requires listed companies to timely file all required periodic reports with the SEC.

It opened the trading session at $9.97, the shares rose to $10.01 and dropped to $9.94, the range by which the price of stock traded the whole day. The daily chart for IPOF points out that the company has recorded -2.83% loss over the past six months. However, it is still -2.05% lower than its most recent low trading price.

If we look at the average trading volume of 3.16M shares, IPOF reached to a volume of 7704551 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Social Capital Hedosophia Holdings Corp. VI [IPOF]:

The Average True Range (ATR) for Social Capital Hedosophia Holdings Corp. VI is set at 0.10 The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for IPOF stock

Social Capital Hedosophia Holdings Corp. VI [IPOF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.50. With this latest performance, IPOF shares dropped by -3.86% in over the last four-week period, additionally sinking by -2.83% over the last 6 months – not to mention a drop of -0.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IPOF stock in for the last two-week period is set at 35.71, with the RSI for the last a single of trading hit 29.22, and the three-weeks RSI is set at 40.01 for Social Capital Hedosophia Holdings Corp. VI [IPOF]. The present Moving Average for the last 50 days of trading for this stock 10.19, while it was recorded at 10.00 for the last single week of trading, and 10.16 for the last 200 days.

Social Capital Hedosophia Holdings Corp. VI [IPOF]: A deeper dive into fundamental analysis

Return on Equity for this stock inclined to 4.83, with Return on Assets sitting at 4.21.

Social Capital Hedosophia Holdings Corp. VI’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

An analysis of insider ownership at Social Capital Hedosophia Holdings Corp. VI [IPOF]

53 institutional holders increased their position in Social Capital Hedosophia Holdings Corp. VI [NYSE:IPOF] by around 18,723,030 shares. Additionally, 56 investors decreased positions by around 16,273,119 shares, while 33 investors held positions by with 35,456,142 shares. The mentioned changes placed institutional holdings at 70,452,291 shares, according to the latest SEC report filing. IPOF stock had 18 new institutional investments in for a total of 6,843,198 shares, while 18 institutional investors sold positions of 3,920,355 shares during the same period.