SoFi's Stock Climbs Above $14 as It Logs Best Five-Day Run in over a Year

Dow Jones11-12

SoFi Technologies Inc.'s stock rally ignited further on Monday, with shares posting another 8%-plus rally.

The neobanking stock has been on a tear in the wake of the presidential election. While it didn't see nearly the same boost as traditional banking stocks did in the session immediately following Donald Trump's victory, SoFi's stockhas made up for it in the trading days since. The stock is up 23.6% over the past four sessions.

Financial-services companies are expected to benefit from a more relaxed regulatory backdrop after Trump takes office for a second term.

Looking at the past five trading sessions, SoFi shares have risen 29.3%, which makes for their largest five-day percentage increase since a stretch ending June 5, 2023, when the shares gained 34%, according to Dow Jones Market Data.

Over a two-day span, the stock has rallied 18.6%, its largest such gain since the two trading days that ended Jan. 29. Shares closed Monday above $14 with their highest finish since Jan. 20, 2022, when they ended the session at $15.

Another positive recent development for SoFi was that fellow lender Upstart Holdings Inc. $(UPST)$ last week indicated improving credit trends, something that SoFi's latest results showed as well. That's giving investors more confidence in the health of the personal-lending segment and the strength of underwriting models.

About 18% of SoFi shares are held short, meaning that the stock's recent momentum could be prompting some short sellers to cover positions.

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