SoFi Technologies, Inc. SOFI started the week on a bullish note.
What Happened: The San Francisco-based company’s shares are on the rise Monday. The trading volume for SoFi stood at 22.823 million shares, slightly below its 100-day average of 36.2 million shares.
The stock's 50-day moving average is currently $6.850 and it is trading near the upper end of its 52-week range of $6.01 to $10.49.
Recent options trading data revealed eight significant trades that have caught the market’s attention. Of these, a majority (62%) were bullish, indicating that most traders expect the stock to rise shortly.
This activity includes both put and call options, with a notable price range focus between $5 and $15.
What Else: Soros Fund Management, the investment firm led by billionaire George Soros, added 300,000 shares of SoFi to its portfolio during the second quarter of 2024.
Founded in 2011, the company started out refinancing student loans. It has since grown into a comprehensive financial services provider.
SoFi's acquisition of Galileo in 2020 further broadened its capabilities, enabling it to offer payment and account services for debit cards and digital banking.
Price Action: SoFi shares were up by 5.57% at $7.38, according to Benzinga pro.
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