New York, June 1, 2026, 05:02 (EDT)
SoFi Technologies shares traded up in premarket Monday, adding to gains from late May as the online bank’s new dollar stablecoin has become the main driver for the stock going into June.
Nasdaq will trade regular hours, opening at 9:30 a.m. ET and closing at 4 p.m. ET. June 1 isn’t on the 2026 holiday list, so Monday is a full session. That means traders get an early June look at whether SoFi’s rally has legs or was just a squeeze last week.
SoFi ended Friday at $18.22, a gain of 7.37%, with roughly 150.7 million shares moving. The stock was at $18.61 before the bell, up another 2.14% at 4:58 a.m., according to Investing.com, but pre-market trades can be thin and tend to move fast.
Barron’s said the stock jumped 17% last week. Shares spiked Friday, but there wasn’t any new company news early that day. The rally came after the SoFiUSD news midweek, and the move seemed driven by excitement around the product and momentum traders chasing gains.
SoFi said on May 27 that close to 15 million members can now buy, sell, hold, and swap SoFiUSD stablecoin in its app. The stablecoin aims to keep to a fixed price, usually one dollar. CEO Anthony Noto said SoFi is bringing together blockchain’s speed with “the trust of a bank.” SoFi Investors
American Banker reports stablecoins aren’t FDIC-insured, with rules on yield still unclear. Emily Goodman, partner at FS Vector, told the outlet stablecoins and tokenized deposits are “structurally distinct.” Stablecore co-founder Nick Elledge called the side-by-side approach the “most complete solution” for retail. American Banker
SoFi’s rally comes as its earnings base has grown from last year. The company’s first-quarter numbers, filed with the SEC, showed GAAP revenue at $1.1 billion, up 43%. Net income reached $166.7 million. Loan originations hit a record $12.2 billion.
Investors did not seem pleased in April. Reuters said SoFi shares dropped after the company left its 2026 revenue outlook steady. William Blair’s Andrew Jeffrey said the guidance showed little downside risk.
Fintech names traded firmer, giving the move in SoFi some sector backing. Robinhood, Affirm and LendingClub were each quoted higher in early or latest data. That put SoFi within a wider fintech tape, even as the bank-issued stablecoin angle stayed tied to its own news.
The downside is out there. If SoFiUSD adoption lags or the rally turns out to be just momentum trading and not real demand, the stock could snap back to being valued on credit, loan growth and how cheap or expensive it looks.
Looking to the week ahead, traders will be watching volume just as closely as price action. If the Friday breakout holds during regular hours, the stablecoin theme stays in play. If it fades, that could suggest the move outran what the product has shown so far.
