SoFi adds to recent run, hits record high close
The stock has doubled over the last three months.
SoFi Technologies jumped 4.5% on the day to finish Monday at a record closing price of $26.15, topping the previous high-water mark set back in early 2021.
SoFi’s gains Monday did not come in the context of a broad market rise and there was little solid news on the fintech firm that might account for the move, other than continued signs that SoFi is garnering its fair share of retail trader attention — call options buying on Friday and Monday were roughly double the average over the previous 20 days.
That attention makes sense: SoFi has staged a remarkable turnaround this year.
It was down nearly 40% for the year in early April, roughly twice the loses of the Nasdaq Composite. But since hitting a 2025 low on April 8, the stock is up more than 175%.
Some of the turnaround is fundamental, as the company posted better-than-expected earnings in Q1 and Q2, garnering analyst upgrades to earnings expectations and share price targets.
Helpful background music in Washington also seems to be playing a role. The GOP budget bill President Trump signed into law last month will reduce federal student lending, likely pushing more borrowers toward private lenders like SoFi.
Meanwhile, SoFi’s return to the world of crypto trading, which it initially announced back in June, and plans to eventually issue stablecoins are just the kind of thing to provide a stock price with a bit of pop in the current, and arguably frothy, market environment.
