SoFi Technologies Stock Hit A New 52-Week High Today: What's Going On?

SoFi Technologies Inc (SOFI) shares are trading higher Monday, hitting a new 52-week high as Wall Street extended record gains, with investors positioning ahead of this week's key Federal Reserve meeting. Optimism is building that policymakers could deliver a potential 25-basis-point rate cut, lowering the federal funds rate to 4.00%?4.25%.

What To Know: Markets are also pricing in a high likelihood of additional cuts at the Fed's October and December meetings, even as inflation remains sticky at 2.9% in August, the highest level since January. At the same time, jobless claims spiked to 263,000, their worst print since 2021, signaling strains in the labor market.

Despite stagflation fears, major U.S. benchmarks, the S&P 500, Dow Jones and Nasdaq-100, surged to record highs last week, fueling demand for growth stocks like SoFi. Investors appear to be betting that easier monetary policy will outweigh economic headwinds and support fintech lending momentum.

Lower rates can spur refinancing and origination across SoFi's personal, student-loan and mortgage products, while also easing credit stress for borrowers. As a bank-funded lender, SoFi's cost of deposits should decline with policy rates, potentially boosting volumes even if net interest margins compress modestly.

Benzinga Edge Rankings: Benzinga Edge ranks SoFi with a Momentum score of 97.50 and a Growth score of 96.64, underscoring its strong market positioning.

Price Action: According to data from?Benzinga Pro, SOFI shares are trading higher by 3.05% to $27.36 Monday. The stock has a 52-week high of $27.69 and a 52-week low of $7.57.

Read Also: SoFi Bets Big On AI With First ETF Launch In Two Years

How To Buy SOFI Stock

By now you're likely curious about how to participate in the market for SoFi Technologies (SOFI) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of SoFi Technologies (SOFI), which is trading at $27.36 as of publishing time, $100 would buy you 3.66 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

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