New York, June 4, 2026, 06:04 (EDT)
SoFi Technologies (SOFI) shares slid again Wednesday, finishing at $16.68, off 5.98%. The stock is now down for a second day, chipping away at last week’s rally. Now investors are trying to figure out if SoFi’s new AI financial coach is more than just another app feature. Tuesday, the stock fell 4.52%.
SoFi is looking to change the story on its product expansion just as the market is getting more cautious about high-growth fintechs. U.S. stocks dropped on Wednesday. The S&P 500 lost 0.7% and the Nasdaq Composite slipped 0.9% as oil prices and Treasury yields went up.
SoFi rolled out SoFi Coach on June 2, calling it an AI-powered chat feature for members. The tool offers personalized support on spending, budgets, saving, and investing, using software that answers member questions and looks at their financial details in the app.
Chief Executive Anthony Noto said the rule is to “spend less than you make and invest the rest,” but added that a lot of people don’t have enough information to feel confident. The company said it’s launching the tool to SoFi Plus members first. SoFi said its financial planning team built the tool. Business Wire
SoFi has rolled out a product that puts it alongside Robinhood Markets and Charles Schwab, who have also rolled out AI tools for brokerage and personal-finance customers. “The next evolution” is how Brian Walsh, SoFi’s head of advice and planning, described the product and its fit in the company’s financial-planning business. Barron’s
SoFi is rolling out more products alongside the launch. Last week, SoFi announced SoFiUSD, a stablecoin meant to keep a one-dollar value, is now live for members. The company expects everyone to get access by early June as people update the app.
That push sent SoFi up 17% in the last short week, Barron’s said, before shares slipped again. The stablecoin news was the main driver, but momentum traders piled in too.
SoFi bulls have been frustrated this year as better results haven’t helped the stock. Shares dropped after April 29, even as the company reported record first-quarter numbers. SoFi kept its 2026 revenue forecast the same. William Blair’s Andrew Jeffrey said SoFi didn’t pass its revenue and EBITDA beats into guidance. EBITDA, which leaves out interest, taxes, depreciation and amortization, was up for the quarter.
SoFi posted growth for the latest quarter, with first-quarter adjusted net revenue up 41% to $1.1 billion. Loan originations climbed to a record $12.2 billion. Membership increased 35% to 14.7 million. The company also logged its 10th consecutive GAAP profitable quarter. GAAP refers to the standard U.S. accounting rules.
SoFi made another move in its tech business, bringing on a new senior executive. PYMNTS said this week Kathleen Pierce-Gilmore, who was with Visa before, joined as president of technology solutions. That unit is tied to SoFi’s banking and payments infrastructure plans.
But risks are still clear. Credit performance, loan-sale economics, and faith in SoFi’s accounting are still in question after Muddy Waters, a short seller, targeted the company in March. SoFi said Muddy Waters’ report was “factually inaccurate and misleading” and might sue. A short seller is betting that shares will drop, so these reports can hit the stock even if the company defends itself. Reuters
Muddy Waters said it was short SoFi and told readers its position could change after publication. The short seller flagged its usual disclaimer, something investors expect when reading activist shorts. With SoFi, the bearish argument sticks to basics: growth in AI and crypto products may not make up for a loan slowdown, bigger losses, or a market that wants lower valuations for fintechs.
