SoFi's stock drops on $1.5 billion share sale announcement
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SoFi's stock fell nearly 6% after announcing a $1.5 billion share sale. The company plans to use the proceeds for general corporate purposes, including enhancing capital position and funding growth. This announcement follows a significant increase in SoFi's market cap in 2025. Despite the stock's rise since 2022, the share sale led to a drop due to dilution concerns. SoFi's recent earnings showed a 38% revenue growth and net income more than doubled.
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