Why SoFi Technologies Stock Surged Over 25% Today

By Eric Cuka – Aug 3, 2022 at 12:57PM

NASDAQ: SOFI

SoFi Technologies

Market Cap

$8B

Today's Change

(0.26%) $0.02

Current Price

$7.60

Price as of April 24, 2024, 4:00 p.m. ET

SoFi Technologies stock rocketed higher after a strong earnings report...but is it a buy now?

SoFi Technologies (SOFI 0.26%) surged over 25% this morning after a strong earnings report. SoFi went public in 2021 and was dismissed as a meme stock, but earnings are proving otherwise. Please watch the five-minute video below for my quick take on SoFi stock and where I think it's headed next. Don't forget to subscribe and watch the Lucid Group (LCID 1.19%) video at the end.

*Stock prices used in the below video were from the trading day of August 3, 2022. The video was published on August 3, 2022.

Eric Cuka has positions in SoFi Technologies, Inc. and has the following options: long January 2023 $35 calls on SoFi Technologies, Inc. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Eric is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.