What’s Fueling SOFI Stock’s Sudden Turnaround After 3 Weeks Of Selling?
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SoFi Technologies Inc. (SOFI) stock rebounded more than 3% on Monday, snapping a two-day losing streak on reports that the fintech company is set to acquire most of the U.K.-based retail investing platform PrimaryBid. The company's stock also gained momentum after fresh filings with the Securities and Exchange Commission revealed CEO Anthony Noto had increased his stake in the company, boosting investor sentiment. The rebound comes amid a three-week stretch in the red for the stock amid broader market weakness and post-earnings volatility. SOFI shares have declined by more than 40% so far in 2026 and by more than 50% since hitting an all-time high of $32.73 in November 2025. SoFi Technologies is acquiring most of PrimaryBid's assets, ending the British fintech's independent operations while enabling a partial return of capital to its investors, according to a Sky News report. A message on the British firm's website seemingly confirms the deal. "PrimaryBid's technology has been acquired by SoFi Technologies Inc, a US-listed financial services company," it said. As per the Sky News report, PrimaryBid, founded in 2016, rose to prominence during the Covid-era fundraising boom by enabling retail investors to participate in public listings and share placements. However, weak UK IPO markets and declining issuance slowed its...
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