SoFi Technologies (NASDAQ:SOFI | SOFI Price Prediction) stock is ripping in early Friday trading, up 12% to around $19, as investors react to the company’s push into bank-issued stablecoins. The pop builds on a fintech bounce that started earlier this week.
The rally is extending across SoFi’s peers. Robinhood Markets (NASDAQ:HOOD) stock is ticking up another 1% to approximately $86, while Upstart Holdings (NASDAQ:UPST) stock is climbing 3% to roughly $34. Both names are continuing strong sessions from Thursday.
The bounce is notable because fintech has been one of 2026’s worst-performing groups. Heading into Friday, SOFI stock was down 35% year to date (YTD), while HOOD and UPST shares were each off 25% YTD.
Stablecoin Launch Fuels the SoFi Surge
SoFi’s catalyst is the rollout of SoFiUSD, with the company positioned as the first U.S. bank to issue its own stablecoin. Per the Q1 2026 earnings update, SoFi Technologies described a “strategic entry into digital assets with SoFiUSD stablecoin” and is developing settlement capabilities with Mastercard (NYSE:MA) for global payments interoperability.
SoFi Technologies CEO Anthony Noto framed the push as a diversifier, stating, “Our strategic entry into new areas like digital assets alongside the strong growth in our existing businesses are strengthening and diversifying our platform.” The fundamentals back the story. Q1 2026 revenue came in at $1.1 billion, with record loan originations of $12.2 billion, up 68% year over year (YoY).
Social media chatter around SoFi is adding fuel to the move. The retail community is actively discussing the discounted valuation, a possible short squeeze setup, and speculation about interest from major financial institutions. That talk is community speculation, not confirmed news, but it may be substantially shaping the order flow into the open.
Robinhood Extends Its Big Thursday
Robinhood stock is following through after a monster session yesterday, when buyers piled in on heavy volume. Reddit sentiment data this week captured peak bullish readings of 76 on WallStreetBets, anchored by a sustained post titled “The inevitable success of robinhood.”
The broader story is rotation. Beaten-down fintech names are catching a bid as risk appetite returns, and Robinhood’s crypto and event-contracts exposure makes it a natural beneficiary of any digital-assets enthusiasm sparked by SoFi’s stablecoin news. However, options-focused traders on Reddit have stayed more cautious, with sentiment readings in r/options stuck in neutral-to-bearish territory.
The composite prediction sentiment for HOOD currently reads neutral with a score of 51, suggesting the crowd is watching rather than chasing. Robinhood’s transaction-based revenue and a growing 4.3 million Gold subscriber base give bulls a fundamental story to lean on if momentum sticks.
Upstart Rides the AI Lending Tailwind
Upstart stock is extending one of the strongest weeks in the group, riding the same fintech rotation lifting its peers. The AI lending platform also has a fresh leadership story, with co-founder Paul Gu having stepped into the CEO role on May 1.
Fundamentally speaking, Upstart’s Q4 2025 revenue grew 31% YoY to $296 million, with loan originations up 86% in the quarter. Composite prediction sentiment is the most upbeat of the trio, reading bullish with a score of 66.
On the other hand, Upstart’s recovery sits on top of a brutal multi-year drawdown, and execution risk under the new CEO is genuine. A sharp bounce in UPST stock and a full trend change are two different things, and the gap matters here.
What to Watch Now
The first question is whether SOFI stock holds the premarket gain into Friday’s close. Stablecoin launches invite regulatory scrutiny, so any color from federal banking regulators on bank-issued stablecoins could shape the stock early next week.
For Robinhood and Upstart, the test is continuation. A multi-day bounce in beaten-down fintech can either fade into profit-taking or extend into a genuine rotation as broader risk-on flows return. Watch for whether the group can take out this week’s highs on Monday’s open.
Prudent investors may want to size their positions modestly here. The setup is constructive, yet all three names are climbing off deep YTD drawdowns, and the catalyst mix blends real fundamentals with retail-driven speculation. Further clarity on the SoFiUSD rollout and the Mastercard settlement partnership remains the key forward catalyst worth tracking.
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