New York, May 31, 2026, 07:45 EDT
SoFi Technologies shares jumped 7.9% on Friday, closing out a short trading week with a 17% gain as investors came back to the digital bank following its stablecoin launch. That was the stock’s second-strongest week of 2026, according to Barron’s.
U.S. stocks didn’t trade Sunday, with markets set to reopen Monday at 9:30 a.m. Eastern after the Memorial Day break trimmed last week to four sessions. Now, traders have to figure out if Friday was the start of a bigger reset or just a quick spike in a volatile fintech stock.
SOFI traded at $18.22, up $1.27 on the day. Around 150.7 million shares changed hands, market data showed. That put the company’s market cap near $25.1 billion.
SoFi on Tuesday rolled out SoFiUSD, its new U.S. dollar stablecoin. The company said about 15 million members can now use the app to buy, sell, hold or convert the digital token, which is pegged to the dollar. CEO Anthony Noto said the token brings together “the speed and versatility of the blockchain” and regulated banking. SoFi said it expects its full launch after users update the app by early June. SoFi Investors
SoFi is now operating in a tricky area of finance with heavy politics. Circle Internet Group and Coinbase Global have moved lately based on stablecoin policy bets. JPMorgan Chase CEO Jamie Dimon, in an interview, said firms handling money like deposits should meet bank rules. “If he wants to be a bank, be a bank,” Dimon said. Investopedia
SoFi posted stronger operating numbers than its early-2026 stock move signaled. For the first quarter, GAAP net revenue was $1.10 billion, up 43% from the prior year. Net income came in at $166.7 million and adjusted EBITDA was $339.9 million. Adjusted EBITDA excludes some items and is before interest, taxes, depreciation and amortization. Membership climbed 35% to 14.7 million. Total loan originations reached a record $12.2 billion.
Still, Wall Street wasn’t sold after the last earnings report. SoFi left its full-year 2026 revenue target at around $4.66 billion and stuck with its earnings guidance of 60 cents a share, according to Reuters in April. William Blair analyst Andrew Jeffrey said investors would “hate these results” even as he saw “limited downside.” CEO Noto told Reuters the “consumer base remains strong.” Reuters
Fintech traders are shifting focus from headlines to results this week. The market wants to see if SoFiUSD’s early-June launch draws real users, if crypto-powered excitement lifts other fintech names, and if SOFI hangs on to its gains as regular trading picks up Monday.
Risk is clear for SoFi. In the 10-Q, the company flagged stablecoins as a source of regulatory, operational, liquidity, technology and reputational risks. Management also said rules around stablecoins are still changing. In the same filing, SoFi reported Technology Platform revenue dropped 27% in the first quarter after losing a big client in 2025.
The stock isn’t stuck at last week’s lows, but it still faces old doubts. SoFi keeps pitching its bank-technology model just as banks, crypto companies, and regulators keep arguing about digital money’s turf.
Momentum is in control for now. Monday’s open will tell if that sticks.
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