Stock Track | SoFi Technologies Soars 5% on Trump's Tax Plan and Bullish Growth Outlook

Stock Track07-10

SoFi Technologies Inc. (SOFI) stock surged 5.04% in pre-market trading on Thursday, as investors react positively to potential benefits from Trump's proposed tax plan and the company's bullish growth projections.

The fintech company is gaining momentum as Trump's tax plan fuels optimism for its student loan business. The proposed bill would lower the cap on graduate student borrowing from the federal government, potentially creating a funding gap that private loan providers like SoFi could fill. This development comes as SoFi prepares to announce its second-quarter results on July 29, with market expectations already running high after strong first-quarter performance.

Adding to the positive sentiment, SoFi recently reaffirmed its ambitious financial targets, projecting adjusted net revenue to exceed $3 billion by 2025 and annual growth above 25% through 2026. The company is also expanding its offerings, with plans to introduce cryptocurrency trading later this year and launch new private-market funds with low investment minimums. These strategic moves, coupled with the potential tailwinds from policy changes, are driving investor enthusiasm for SoFi stock.

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