NASDAQ:SOFI 6 May 2026 - 31 May 2026

SoFi Technologies closed last week with little change, but news of a deal to buy Peach Finance gave investors another look at whether the digital lender can restore faith in its tech platform after a tough month for the stock. Timing is a factor. SoFi ended Friday at $15.62, down 0.19% on the day. The Dow Jones Industrial Average reached a record close, and the S&P 500 gained for the eighth week in a row. Reuters said hopes for Middle East talks and a strong run of earnings pushed the S&P 500 higher.

SoFi Technologies shares dipped 0.2% to $15.66 in early afternoon trading Thursday, trailing gains in the tech sector as investors looked at the online lender’s strong first-quarter growth but also fresh concerns about rates, oil and credit risk. Shares moved in a $15.36 to $15.76 range, and about 27.7 million shares changed hands. SoFi made only a minor move, but the timing is notable. The stock has struggled to bounce back after it slumped on its April earnings. That report logged record revenue and loan growth, but investors focused on the decision to keep the 2026 outlook the same.

SoFi Technologies just picked up tech from UK-based PrimaryBid, pushing further into the business of connecting retail investors with IPOs and capital raises. According to PrimaryBid’s site, Nasdaq-listed SoFi is the buyer. PYMNTS reported a SoFi spokesperson confirmed the deal included assets tied to PrimaryBid’s directed share program. The deal’s timing is crucial as SoFi looks to diversify its revenue with more fee-based streams tied to its core lending and banking app. Fresh momentum in the U.S. listings market adds to the backdrop. With a directed share program, companies can carve out a slice of a stock offering for employees, customers, or retail investors—instead of handing nearly all the allocation to big institutional players.

SoFi Technologies has snapped up PrimaryBid’s technology, a targeted play aimed at expanding the digital bank’s reach in IPOs and capital markets for retail investors. On its website, PrimaryBid disclosed the May 8 acquisition by SoFi. A SoFi spokesperson also confirmed to PYMNTS that the deal includes PrimaryBid’s directed share program assets. SoFi is pushing to prove it can expand past consumer lending, and that’s why this deal is taking center stage. The stock, though, isn’t getting a break: shares dropped 2.9% to $15.44 in afternoon trading, trading above 40 million shares, according to market data.

SoFi Technologies lost ground on Tuesday, reversing some of Monday’s gains. The move followed a new target cut from Truist that grabbed investor attention, overshadowing SoFi’s latest acquisition headlines. Shares kicked off at $16.04, briefly reached $16.31, but then slipped to a session low of $15.63. By late morning, the stock hovered around $15.75. Here’s what sparked the drop: Truist’s Matthew Coad slashed the price target to $17, flagging weaker sales forecasts for SoFi’s loan platform and dialing down his outlook for Galileo and Technisys. That hit a nerve with investors. SoFi’s headline numbers are strong, but Wall Street isn’t convinced the growth runs deep enough for a premium valuation.