SoFi Technologies Inc (NASDAQ:SOFI) shares are hitting new 52-week highs on Tuesday. Here’s a look at what’s going on.
What To Know: SoFi shares have been moving on strong momentum in recent weeks, having rallied more than 43% over the past month and more than 115% over a three-month period.
The stock appears to be benefiting as investors expect the company to benefit from recent student loan changes that were included in President Donald Trump’s spending and tax bill that was signed into law on Friday.
The bill included changes to federal student loan programs, which could push borrowers to pursue private loans to help cover educational costs. SoFi said earlier this year that it would aim to capture the opportunity presented by federal student loan restrictions.
SoFi shares are also seeing increased attention on Tuesday after the company announced expanded access to private market funds from multiple asset management firms. The company said investors will now be able to gain exposure to private companies across hot industries including AI, machine learning, space, financial technology and more.
Starting Tuesday, SoFi users will have access to some of the most popular private company investments like SpaceX, OpenAI, xAI and Epic Games.
“SoFi is expanding alternative investment opportunities for a new generation of investors,” said Anthony Noto, CEO of SoFi.
How To Buy SOFI Stock
By now you're likely curious about how to participate in the market for SoFi Technologies – 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.
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.
SOFI Price Action: SoFi shares were up 3.51% at $19.93 at the time of publication Tuesday, according to Benzinga Pro.
Read Next:
Photo: Shutterstock.
