New York, June 8, 2026, 07:06 (EDT)
- SoFi looked set to open close to $16 ahead of the regular Nasdaq session, after tumbling late Friday.
- Nasdaq futures edged higher, leaving consumer-fintech shares looking weaker by comparison.
- Investors are still looking at record Q1 growth, but 2026 guidance is unchanged and credit-cycle risks remain.
SoFi Technologies was stuck around $16 just before Monday’s open, with shares still feeling heat after slipping late last week. The stock last traded at $16.03 according to the investor page, matching the June 5 close. That’s down from $18.58 at the start of June.
Timing is key here. Regular trading on Nasdaq wasn’t open yet. Nasdaq says its pre-market session is from 4:00 a.m. to 9:30 a.m. Eastern, before the main hours of 9:30 a.m. to 4:00 p.m. It also notes extended-hours trading can see more price swings with fewer traders in the market.
S&P 500 and Nasdaq 100 futures moved up early Monday, Reuters said, as chip stocks paused their slide. The Dow was weaker. Oil prices and worries on rates kept risk appetite limited.
SoFi’s problem doesn’t come from a new earnings miss. It’s lingering frustration from April, when the company reported a record Q1 but left its 2026 revenue target unchanged. That disappointed some investors looking for raised guidance. Back then, Reuters reported SoFi still guided for full-year profit of 60 cents per share with about $4.66 billion in revenue, matching what Wall Street expected.
SoFi posted big headline numbers for the first quarter. GAAP net revenue jumped 43% to $1.1 billion, and net interest income climbed 39% to $693 million. Net income was $166.7 million, or 12 cents a share. SoFi ended the quarter with 14.7 million members, up 35%. Total products rose 39% to almost 22.2 million.
SoFi CEO Anthony Noto told Reuters after Q1 earnings that the company’s customer base is still healthy. “The health of our consumer base remains strong,” he said, noting that credit performance was in line with what the company expected. Reuters
Investors are focused on how SoFi moves from current growth to its forecasts. William Blair’s Andrew Jeffrey said in a note, “SoFi uncharacteristically did not flow through first-quarter revenue and EBITDA upside” to the 2026 outlook, Reuters reported. EBITDA, or earnings before interest, taxes, depreciation and amortization, is a profit metric that strips out some expenses so investors can compare companies. Reuters
SoFi wasn’t the only one under pressure. Robinhood Markets traded at $82.47, below its last close. Upstart Holdings, another online lender, was indicated at $29.74, also down. SoFi is staying in a weaker part of the market while some tech names try to rebound.
If rates stay high, funding costs and borrower stress could outweigh gains from member growth. Noto spoke with American Banker, saying SoFi was keeping its full-year guidance flat as the company has dropped its expectation for rate cuts, citing higher oil and wider inflation worries as reasons for holding back.
SoFi trades at $16.03, still well off the 52-week high of $32.73 and sitting near the 52-week low of $13.93. After Friday’s selloff, traders are watching Monday’s session for signs the pressure is easing.
