New York, June 29, 2026, 09:07 (EDT)
- SoFi Technologies, Inc. NASDAQ:SOFI traded at $18.11 ahead of the open at 8:49 a.m. EDT, gaining 1.29% from Friday’s close.
- On Friday, volume hit 90.63 million shares, which is 130% of the stock’s 65-day average. Short interest came in at 195.79 million shares, or 15.55% of the float.
- Nasdaq hadn’t begun regular trading yet. The exchange lists regular hours as 9:30 a.m. to 4:00 p.m. ET, and shows July 3 as closed for Independence Day observed.
- U.S. futures traded higher in early moves. Nasdaq 100 E-minis were up 1.17% and S&P 500 E-minis added 0.84% as of 8:23 a.m. ET.
SoFi Technologies, Inc. NASDAQ:SOFI traded up before the bell Monday, but Friday’s volume was the clearer signal. Shares finished Friday at $17.88, gaining 3.35%, after touching $17.97 in the session. Early Monday, SOFI was quoted at $18.11 in the premarket, sitting 21% off its 52-week low and still 45% below the 52-week high.
There’s a big short base here, but it isn’t stuck. MarketWatch put short interest at 195.79 million shares on June 15, or 15.55% of the float. That works out to about 2.8 days to cover, with the stock averaging 69.85 million shares in daily volume. So a squeeze could move the stock, though it probably won’t be the only thing driving it.
| SoFi market read | Latest reading | Investor read-through |
|---|---|---|
| Premarket quote | $18.11, +1.29% | Monday’s premarket held above Friday’s finish |
| Friday close | $17.88, +3.35% | Bounce showed up late Friday ahead of Monday’s open |
| Friday volume | 90.63 mln shares | Turnover ran 130% of the 65-day average |
| Short interest | 195.79 mln shares | 15.55% of float |
| Days to cover | About 2.8 | Shorts are heavy, but stock trades easily |
| 2026 year-to-date move | -31.70% | Most of the year’s losses haven’t reversed |
Stock was a bit higher ahead of the open. Reuters said S&P 500 E-minis rose 0.84% and Nasdaq 100 E-minis gained 1.17% at 8:23 a.m. ET, with futures climbing after Middle East tensions cooled. “There have been several false starts in peace negotiations. I would expect most market participants to remain in a holding pattern through the rest of this week,” Peter Andersen, founder of Andersen Capital Management, told Reuters. Reuters
| Monday pre-open comparison | Move | Time |
|---|---|---|
| SoFi NASDAQ:SOFI | up 1.29% | 8:49 a.m. EDT |
| Nasdaq 100 E-minis | up 1.17% | 8:23 a.m. ET |
| S&P 500 E-minis | up 0.84% | 8:23 a.m. ET |
Growth, credit and funding costs still drive the SoFi story. The company reported first-quarter GAAP net revenue up 43% to $1.1 billion, with adjusted net revenue up 41%. Adjusted EBITDA climbed 62% to $339.9 million, and net income came in at $166.7 million. SoFi posted its tenth straight quarter of GAAP profit.
| SoFi Q1 2026 measure | Result | Change |
|---|---|---|
| GAAP net revenue | $1.1 bln | up 43% |
| Adjusted net revenue | $1.1 bln | up 41% |
| Adjusted EBITDA | $339.9 mln | jumped 62% |
| GAAP net income | $166.7 mln | n/a |
| Members | 14.7 mln | increased 35% |
| Deposits | $40.2 bln | rose $2.7 bln in quarter |
The numbers tell a mixed story. Lending GAAP net revenue jumped 55% in Q1, and Financial Services net revenue climbed 41%. But Technology Platform net revenue dropped 27% after a major client left ahead of 2025. That’s relevant for the shares, with SoFi at 40.55 times earnings and a 2.13 beta, so growth is still priced in.
SoFi launched Composer by SoFi on June 23, an AI investing tool following its purchase of Composer. “Composer has built one of the most innovative AI-powered investing platforms available to retail investors today,” CEO Anthony Noto said. Noto added, “As AI becomes a foundational part of investing, Composer by SoFi strengthens our ability to deliver powerful investing tools.” SoFi Investors
Ben Snider, chief U.S. equity strategist at Goldman Sachs NYSE:GS, told Reuters the “21% S&P 500 return over the past 12 months has been driven entirely by earnings.” That puts the coming earnings season in the spotlight for growth stocks. For SoFi, investors may focus mainly on deposit growth, loan returns, and fee revenue to see if those can lift a stock still off more than 30% this year. Reuters
