NEW YORK, March 10, 2026, 6:18 PM EDT
SoFi Technologies dropped roughly 2.6% to $18.29 in late Tuesday trading in the U.S.
The action followed CEO Anthony Noto’s insider buy on March 2 and the March 3 Mastercard deal tied to SoFiUSD. Investors are still being asked to believe in SoFi’s growth prospects, even as they absorb the hit from last year’s stock sales—$3.3 billion brought in, according to the company.
Fintech names took hits on Tuesday, with Affirm dropping around 2.0% and PayPal off about 2.5%. SoFi, meanwhile, was trading at nearly 50 times earnings—more expensive than PayPal’s 13 but sitting below Affirm’s 78.5.
San Francisco-based SoFi isn’t shy about its numbers. In the Jan. 30 release, CEO Anthony Noto dubbed the fourth quarter “nothing short of exceptional” as the company delivered record adjusted net revenue — roughly $1.0 billion. Adjusted EBITDA landed at $318 million, with fee-based revenue showing $443 million on the books. Membership hit 13.7 million by the close of 2025, while products reached 20.2 million. Revenue from SoFi’s financial-services arm surged 78% to $456.7 million, according to Reuters. Q4 Holdings
According to a Form 4, Noto snapped up 56,000 SoFi shares on March 2, paying a weighted average of $17.8842 per share. That bump takes his direct stake to 11.68 million shares. The filing flagged a notable open-market buy from the chief executive.
SoFi is pushing to broaden its narrative past just lending. Back on March 3, the company revealed that Mastercard would start letting transactions settle in SoFiUSD, a dollar-backed stablecoin meant to maintain a constant value, right on Mastercard’s network. SoFi Bank plans to handle its own Mastercard credit and debit settlements in SoFiUSD as well. CEO Anthony Noto called SoFiUSD “at the heart of our strategy” to speed up, cut costs, and bolster safety in moving money. SoFi
SoFi’s take: yes, last year’s stock sales were dilutive, but in return, the company locked in lower-cost funding and beefed up its capital. Some proceeds went straight to paying down warehouse lines—those short-term loan funding facilities. According to its most recent earnings release, deposits carry a cost that’s 181 basis points, or 1.81 percentage points, lower than warehouse lines, which works out to roughly $679.8 million in annualized interest expense savings.
Risks are still on the table. SoFi flagged that broader SoFiUSD adoption hinges on regulatory signoff and Mastercard network requirements, and the firm’s tech-platform enabled accounts slumped 23% in Q4 after a major client exit. Should loan expansion stall or credit losses tick up, a stock priced at roughly 50 times earnings faces the risk of renewed selling.
