SoFi stock lags Nasdaq after small-business loan launch as volume math sets high bar
SoFi Technologies, Inc. fell in midday trade on Tuesday after the digital lender launched small-business loans, a product push that adds a new credit line but does not yet answer the stock’s harder question: how much more loan volume can SoFi add without leaning too much on its balance sheet. The shares were down 1.8% at $17.87 at 11:50 a.m. EDT, versus a 1.3% gain for Invesco QQQ Trust Series 1 and a 0.6% rise for SPDR S&P 500 ETF Trust. SoFi traded between $17.72 and $18.33, with volume near 23.9 million shares.