NEW YORK, March 13, 2026, 09:50 EDT
SoFi Technologies bounced 1.1% to $17.89 in early Friday trading, trimming some of Thursday’s slide. Shares had ended the previous session at $17.70.
The gain barely puts a dent in SoFi’s recent slump. Shares rose Friday, but the stock still lagged 22% under its Jan. 30 close at $22.81. Wall Street showed a split open following Thursday’s steep drop, as investors dumped riskier stocks on higher oil and fresh inflation worries.
SoFi shares, jittery again, finished Wednesday at $18.53, then dropped to $17.70 on Thursday—that’s a 4.5% fall in just one day, based on figures from the company’s own stock page.
That marks a big shift from the sentiment after its fourth-quarter numbers back in January. At the time, Reuters reported SoFi hit a record $1 billion in adjusted revenue, with financial services revenue soaring 78% to $456.7 million, and $10.5 billion in loans originated—also a record for the quarter. CEO Anthony Noto described members’ financial health as “remained strong.” Reuters also highlighted that fee-generating businesses, rather than those relying on lending spreads, offer fintechs some protection from interest-rate volatility. Reuters
Management is trying to shift the narrative past just lending. Back on March 3, the company announced that Mastercard would allow SoFiUSD — a stablecoin pegged to the U.S. dollar — to be used for settlements on Mastercard’s network. Noto called SoFiUSD “at the heart” of efforts to move money faster, cheaper, and with more security. SoFi
There are still bulls in the mix. Citizens JMP analyst Devin Ryan, who bumped up his rating on SoFi last month, said the company was “moving through that transition faster than many models reflect”—but he cautioned, “the path can be lumpy.” Tiger Brokers
Affirm edged up roughly 0.2%, PayPal tacked on 0.4%, and Upstart climbed 1.2% on Friday. Robinhood, though, fell 1.2%. Fintech names were being picked over individually—no sweeping bets on the group.
The risk is right out in the open. Carson Group strategist Ryan Detrick told Reuters Thursday had that “sell first, ask questions later” vibe, with oil jumping and optimism fading for Fed rate cuts later in the year. SoFi’s March 3 statement also pointed to regulatory, security, and adoption risks tied to digital-asset products. Reuters
Management’s confidence is showing up in the numbers—Barron’s flagged a $1 million SoFi stock buy from CEO Anthony Noto on March 2, the first time he’s stepped in since June 2024. Still, that move lands as investors continue to back away from riskier growth stocks.
Related articles: NASDAQ:SOFI
