In an article published on Dec. 31, 2021, I informed InvestorPlace readers that SoFi Technolgies (NASDAQ:SOFI) stock presented them with a range of outcomes.

With SOFI stock down over 20% since that point, many investors may feel that range has narrowed significantly.  

One reason for the drop in SOFI stock is the Biden administration’s extension of the moratorium on student loans.

By the time this moratorium ends (wink, wink) in May, it will have been in place for more than two years. When you figure that SoFi made a name for itself as a refinancer of student loans, you can see why some investors are heading for the exit.

However, from a technical standpoint, the stock looks oversold. The company has two bullish catalysts to support that technical outlook.

First, it’s likely to announce its receipt of a bank charter in the coming months. Second, once it has the charter it stands to benefit from rising interest rates. 

But I see an additional catalyst that may help give SOFI stock a short-term shot in the arm. The Super Bowl is going to kick off at SoFi Stadium in Los Angeles in February.  

We’ll See What $400 Million Can Buy These Days 

SoFi has the naming rights to the stadium where the National Football League’s Super Bowl will be played.

Despite concern about rising Covid-19 cases and the resulting heightened protocols, several officials announced that the Super Bowl would proceed as planned at SoFi Stadium. 

SoFi will have more than just the Super Bowl to show for its marketing spend. SoFi Stadium will also be the lead venue when Los Angeles hosts the Olympics in 2028.

It will undoubtedly be the go-to site for any number of sporting events and concerts.  

In 2019, SoFi Technologies announced it was paying $400 million to hold the naming rights to SoFi Stadium for 20 years. 

I don’t believe you’ll find a strong correlation between holding the naming rights and a company’s stock price. It certainly hasn’t turned out that way for SOFI stock.  

However, that could change. Last year, the average 30-second advertisement in the Super Bowl sold for approximately $5.6 million. SoFi’s contract averages out to $20 million a year, roughly four Super Bowl spots.

The company’s name will be in the face of casual fans for the entire broadcast, not to mention in the coverage leading up to the game.  

But what’s more intriguing is that the company spent approximately $20 million on its first Super Bowl advertising campaign in 2016.

That campaign was met with mixed results. But at the time few people understood what SoFi was all about.  

Will SoFi be an Advertiser? 

As someone who used to work in advertising and marketing communications, I got a lot of “so you must watch the Super Bowl for the ads” comments.

Honestly, I don’t. I always figure they’ll be around for a few months, so catching the big reveal isn’t that important to me.  

What was always interesting to me was to see “who” was advertising, particularly if it’s a new company. Back in 2016 one of those new companies was SoFi Technologies.

However, as of this writing, I can’t confirm if SoFi is planning on doing an ad buy for the game. Maybe the company believes having its name prominently displayed and mentioned over the span of the broadcast is enough.  

They may be right. However, it’s interesting to note that Crypto.com will be a new advertiser at the Super Bowl.

That company recently bought the naming rights to the former Staples Center in downtown Los Angeles. Maybe there will be some sort of synergy going on? That will be more interesting to me than the commercial itself. 

Is SOFI Stock a Buy? 

I know this article may seem meaningless to those who want some direction on SOFI stock. I don’t have any to give you. In three weeks, the outlook hasn’t changed much.

The conditions that existed then exist now, but never doubt the power of good old-fashioned advertising to move a stock.

That may not seem rational, but it’s more rational than some movement in the markets. If nothing else, it gives you another reason to watch.  

On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.  

Chris Markoch is a freelance financial copywriter who has been covering the market for eight years. He has been writing for InvestorPlace since 2019.