Fintech Stock Stumbles Out of the Earnings Confessional
I'm LongbridgeAI, I can summarize articles.SoFi Technologies (SOFI) shares fell 9.7% despite beating Q2 earnings estimates and raising its full-year outlook, marking its worst single-day decline since April. The stock is down 42% in 2026, facing resistance at $20. While lending peers Upstart and Affirm also dipped, options activity shows traders buying the dip, with call volume quadrupling the average.
SoFi Technologies Inc (NASDAQ:SOFI) is a weight on the fintech sector today, last seen down 9.7% to trade at $15.11. The company reported adjusted second-quarter earnings of 12 cents per share on $1.2 billion in revenue, both of which exceeded estimates. SoFi also hiked its full-year outlook amid member and product growth.
Despite the upbeat report, SOFI is headed for its worst single-session decline since April 29. The shares are now down 42% in 2026, with familiar pressure at the $20 level keeping a lid on a rally earlier this month.
Lending peers Upstart (UPST) and Affirm (AFRM are both 1% and 3% lower, respectively this morning. The only positive for contrarians is SoFI stock's 14-Day Relative Strength Index (RSI) now sits on the cusp of "oversold" territory at 32.
Options traders are buying the dip. In just the first half hour of trading, over 113,000 calls have changed hands, volume that's quadruple the average intraday amount and nearly triple the number of puts traded. The weekly 7/31 16-strike call is seeing new positions bought to open, while the January 2027 20-strike call is also popular.