SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading higher Thursday amid overall market strength and continued upward momentum. The stock has gained more than 27% over the past month.
What To Know:
The Federal Reserve held interest rates steady and signaled three rate cuts in 2024 sending stocks racing higher on Wednesday. News of the Fed pivot was followed by retail sales data and jobs numbers released before the market open on Thursday.
SoFi Technologies shares are climbing on heavy trading volume with more than 40 million shares already traded in the session. According to data from Benzinga Pro, Thursday’s trading volume has already exceeded the stock’s 100-day average volume of 35.361 million shares.
SoFi shares are trading well-above the stock’s 50-day moving average of $7.56, and 15.91% of shares are being sold short, according to data from Benzinga Pro.
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SOFI Price Action: According to Benzinga Pro, SoFi Technologies shares are up by 4.7% at $9.36 at the time of publication.
Image: TungArt7 from Pixabay
