Overview
- SoFi shares traded lower Tuesday after pricing 54.5 million new shares at $27.50 last week, a $1.5 billion raise that bolsters capital but dilutes existing holders.
- At 10:45 a.m. ET, the stock was down about 1.7% to $27.17, with traders also eyeing the Federal Reserve’s rate decision and guidance on the pace of cuts.
- The company announced a partnership with Templum to give accredited investors private‑market access to names such as Stripe and Epic Games, extending its financial‑super‑app push.
- Recent results highlighted momentum: Q3 adjusted net revenue rose roughly 38% year over year, non‑GAAP EPS reached $0.11, GAAP net income was about $139 million, and profitability extended to an eighth straight quarter.
- User growth remained strong with about 905,000 net new members in Q3 to roughly 12.6 million and products expanding to around 18.6 million, supported by faster‑growing fee‑based revenue.