Whoa, okay. So here’s the buzz today. Shares of SoFi, you know, that digital bank-slash-fintech thingy (SOFI, which somehow is up 6.05% for reasons I can’t quite pin down) got a nice little boost, roughly 8.6% higher. And yeah, by 1:26 p.m. ET, it smashed into a new 52-week high of $18.92. Why it happened? Good question. No idea really, but let’s mull it over.
Okay, uh, moving on to, um, what was it? Ah, right, momentum. Yeah, something like that. Last week, SoFi threw out a press release about diving head-first into new crypto stuff on their platform. Just a quick rewind: SoFi was letting members buy crypto, then had to put the brakes on in 2023. Regulator stuff – gotta love it. But hey, with the Trump administration all pro-crypto, guess they’re full steam ahead again.
There’s this pic, by the way, of someone looking super jazzed, holding money, grinning at a screen (some Getty Images magic, folks). Anyway — or wait, no — back to SoFi. They’re rolling out global remittances and crypto investing later this year. Called it the “first of many” for crypto and blockchain jazz. Sounds flashy, huh? Brokering good vibes with the crypto folks might just give ’em a nifty edge.
And get this: folks are feeling hopeful about Fed rate cuts. CME Group says over 75% of traders fancy the idea of the Fed shaving off a quarter point from interest rates at the September shindig. A climb from, what, 66.5%? Yep, people love their numbers.
SoFi’s killing it — revenue’s up 20% year over year in Q1 of 2025. Finally turned profit corner too. Props for that. Yet, truth bomb: it’s pricey at 67 times forward earnings. Maybe hold out for a bargain. Just saying.
