SoFi Technologies Inc (NASDAQ:SOFI) shares are trading higher during Friday’s pre-market session as traders react to the rollout of a new U.S. dollar stablecoin feature inside the SoFi app, adding a fresh crypto-adjacent product angle to the company's one-stop financial platform.
- SoFi Technologies stock is among today’s top performers. What’s fueling SOFI momentum?
What’s Driving SoFi’s Stock Surge Today?
SoFi says SoFiUSD is now available for members to buy, sell, hold, and convert directly within the SoFi app, describing it as the first time a U.S. national bank-issued stablecoin is available directly on a banking app. The company also frames SoFiUSD as a "bank-grade," 1:1 redeemable U.S. dollar stablecoin on a public blockchain, with access expanded to nearly 15 million members.
SoFi is also getting a second, retail-trading narrative tailwind as SpaceX's IPO prospectus language has circulated with talk of up to 30% of shares potentially allocated to retail, over three times the typical retail slice. That matters for SOFI because IPO access headlines can temporarily lift engagement expectations for brokerage-led product funnels, even if the stablecoin rollout is today's cleaner catalyst.
Critical Price Levels To Watch For SOFI
From a trend perspective, SoFi is trading 18.9% above its 20-day SMA ($15.95) and 13.6% above its 50-day SMA ($16.69), but it's still 1.7% below the 100-day SMA ($19.29) and 18.4% below the 200-day SMA ($23.24). That mix fits a "bounce inside a bigger downtrend" setup, especially with the 50-day SMA still below the 200-day SMA after the death cross in March.
Momentum looks better than it did into the May swing low: MACD is above its signal line and the histogram is positive, which points to improving upside pressure versus the prior downswing. In plain English, when MACD is above its signal line, it often means sellers are losing control even if the longer-term trend hasn't fully flipped.
The near-term map is fairly clean: $20.00 is the first big area to clear, while $16.50 is the nearby line in the sand if the premarket pop fades after the open. If price can reclaim and hold above the 100-day area (around $19.29) and then push through $20.00, it would start to look more like a trend repair than just a reaction rally.
- Key Resistance: $20.00 — a nearby round-number level where rebounds can stall
- Key Support: $16.50 — a nearby prior pivot area that sits close to the 50-day SMA zone
SoFi Technologies Benzinga Edge Score Breakdown
Below is the Benzinga Edge scorecard for SoFi Technologies, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Weak (Score: 15.77) — Despite the premarket jump, the broader momentum profile still screens as lagging versus the market on this model.
- Growth: Strong (Score: 98.19) — The scorecard is flagging SoFi as a growth-heavy story, which helps explain why product headlines can move the stock quickly.
The Verdict: SoFi Technologies’s Benzinga Edge signal reveals a growth-heavy profile with weak momentum, which can translate into sharp rallies that still need follow-through to become durable trends. For longer-term bulls, the key is whether the stock can build on this move by reclaiming major moving averages rather than fading back into the post-death-cross range.
SOFI Stock Price Movement During Premarket Trading
SOFI Stock Price Activity: SoFi Technologies shares were up 11.55% at $18.93 during premarket trading on Friday, according to Benzinga Pro data.
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