SoFi Technologies Stock Is Surging Wednesday: What's Going On?

Shares of SoFi Technologies Inc SOFI are rallying on Wednesday amid overall market strength. The financial technology company has been on an upward trajectory in recent weeks, fueled by a combination of strong company guidance and potentially a favorable macroeconomic environment.What To Know: Earlier in June, SoFi’s management, speaking at the William Blair Growth Stock Conference, reiterated ambitious growth targets, projecting over $3 billion in adjusted net revenue by 2025 and long-term annual revenue growth exceeding 25% through 2026. Chief Financial Officer Chris Lapointe highlighted robust growth in loan originations and a substantial increase in deposits to $27 billion. This fundamental strength has been complemented by bullish technical indicators.Read Also: GameStop Stock Is Rising Wednesday: What’s Going On?Additionally, the Federal Reserve announced on Wednesday that it would hold interest rates steady. While the Fed’s updated economic projections indicated slightly slower growth and higher inflation forecasts for 2025, the median preference among policymakers still points to two potential rate cuts in the coming year. This signal of a less aggressive monetary policy stance has been broadly welcomed by the market Wednesday afternoon. Adding to the positive news flow, a Reuters reports cited President Donald Trump’s crypto advisor, David Sacks, suggesting that the stablecoin bill could increase demand for U.S. dollars, a development that could benefit a federally regulated bank like SoFi.Price Action: SOFI shares are surging 5.37% to $15.21 Wednesday afternoon. The session’s trading volume of 58.56 million shares was trading just under its 100-day average volume of 61.09 million shares.Read Also: Innoviz Shares Continue To Climb: What Investors Are WatchingHow To Buy SOFI StockBy 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.In the case of SoFi Technologies, which is trading at $15.13 as of publishing time, $100 would buy you 6.61 shares of stock.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.Image: Shutterstock