SoFi stock small-business lending gains lose momentum ahead of July 4 break
SoFi Technologies, Inc. heads into the July 4 holiday up for the week, but Thursday’s session wasn’t clear-cut. Shares hit $19.19 intraday before closing at $18.24, down nearly 5% from the high. Trading volume reached 81.38 million shares, around 14% higher than the 65-day average, even with Nasdaq markets closed Friday for Independence Day observed. SoFi’s new move is catching attention but not so easy to put in a model. The company rolled out fixed small-business loans ranging from $2,500 up to $250,000, with no application, origination, or prepayment fees. CEO Anthony Noto said members’ financial needs “do not stop at personal goals,” pointing to “the businesses they are building.”