SOFI Stock Pops as Bank Stocks Gain


  • SoFi Technologies (SOFI) stock is climbing without news from the company.
  • Instead, it’s getting a boost from a bank stock rally.
  • That follows positive earnings reports from major players in the space.
SOFI Stock - SOFI Stock Pops as Bank Stocks Gain


SoFi Technologies (NASDAQ:SOFI) stock is on the rise Friday as the company’s shares rally alongside other shares in the financial sector.

Bank stocks are getting a lift on Friday morning after several major companies in the market released their latest earnings reports. Those results were overall positive, resulting in increases today.

While SoFi Technologies wasn’t among those that released earnings today, it still gained alongside those that did. This isn’t too surprising as stocks sometimes move in sympathy with others in the same market.

The bank stock rally today also comes as investors in financial firms seek out a win. The market has been in turmoil lately following the failure of Silicon Valley Bank. The turmoil spread beyond just that company’s stock and pulled down a variety of banks in the U.S. and overseas.

SOFI Stock Movement Today

While shares of SOFI stock are on the rise today, that doesn’t come with heavy trading. Instead, only about 8 million shares have changed hands as of this writing. While that may seem like a lot, the company’s daily average trading volume is roughly 36.4 million shares.

SOFI stock is up almost 1% as of Friday morning and up 31.2% since the start of the year.

Investors seeking out more of the most recent stock market news will want to keep reading!

We’ve got all of the hottest news worth reading about on Friday! A few examples include why shares of Ocugen (NASDAQ:OCGN), Boeing (NYSE:BA) and Lucid (NASDAQ:LCID) stock are on the move today. You can read all about these topics at the following links!

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On the date of publication, William White did not hold (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 Publishing Guidelines.

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