SoFi Stock Is Sliding Wednesday: What's Driving The Move?
SoFi Technologies (SOFI) shares are declining due to traders fading a recent crypto-product pop and resetting risk in fintech names. Despite some recent positive developments like the launch of SoFiUSD and potential retail allocation in a SpaceX IPO, the stock remains technically challenged, trading below its 50-day, 100-day, and 200-day SMAs. The Benzinga Edge scorecard classifies SoFi as strong in growth but weak in momentum, suggesting a need to reclaim key moving averages for an improved longer-term outlook.
https://www.benzinga.com/trading-ideas/movers/26/06/52980500/sofi-stock-is-sliding-wednesday-whats-driving-the-move