New York, June 1, 2026, 18:04 (EDT)
- SoFi was last at $18.58, up 1.9%. The stock moved between $17.70 and $18.80 during Monday’s session.
- Shares moved after last week’s SoFiUSD launch. Full rollout is set for early June.
- BTIG is pointing to loan-loss trends as a risk for the lending side.
SoFi Technologies climbed on Monday, building on a recent rebound. Investors bought into the online bank’s new dollar-linked stablecoin, part of a wider move into fintech stocks.
SoFi shares traded at $18.58, up 1.9% with over 96 million shares changing hands. The stock hit $18.80 earlier in the day. The action kept SoFi on traders’ radar after a choppy May that saw investors move back to some growth and crypto-related financials.
SoFiUSD is drawing attention, but the bigger test is if it ends up being more than just a trading catalyst. SoFi said last week the stablecoin would roll out to almost 15 million members on its app, with full rollout set for early June as users update.
SoFi CEO Anthony Noto is calling the new product a bridge for customers who want both regulated banking and blockchain payments. “People no longer have to choose between blockchain technology and regulated banking products,” Noto said in the company’s release. SoFi Investors
That’s important as SoFi is working to prove to investors it’s more than a fast-growing lender. The company is expanding into payments, brokerage, banking, and tech services, aiming to beef up its fee-based revenue share.
SoFi’s first-quarter numbers are still the big figure in focus. The company turned in record net revenue of $1.1 billion and net income of $167 million, with adjusted EBITDA at $340 million. Total loan originations hit $12.2 billion. Adjusted EBITDA strips out interest, tax, depreciation and amortization.
Even with a record quarter, the April earnings move put a spotlight on the market’s high bar. SoFi shares slipped after the company didn’t change its 2026 revenue forecast, Reuters said at the time. William Blair’s Andrew Jeffrey wrote, “The Street will hate these results, in our view, but we see limited downside.” Reuters
Tech was back in the lead Monday. The Nasdaq added 0.42% and the S&P 500 picked up 0.26%, with technology and software stocks still running higher on a record-setting rally, according to market data from Investing.com.
LendingClub gained 3.1%, but Upstart edged down 0.5% and Robinhood dropped 3.8%. The moves showed investors picked among fintechs instead of grabbing all consumer-finance stocks.
SoFiUSD could draw notice before it gets real traction, setting up a risk if credit worries come back. BTIG’s Vincent Caintic kept a Neutral on the stock, pointing out that some fresh loans are showing bigger losses. He warned that could make investors hesitate to buy SoFi’s loans and hit profits on loan sales.
Traders are watching SoFi’s stablecoin push as the latest test of its promise to mix banking, lending and digital assets in one app. The stock’s next moves could show if that idea keeps the rally alive, or if SoFi shares hit the same old valuation, credit, and execution worries in the coming sessions.
