Why SoFi Stock Jumped 13% in August
Shares of digital bank SoFi Technologies (NASDAQ: SOFI) stock gained 13% in August, according to data provided by S&P Global Market Intelligence. It was coming off of an excellent earnings report at the end of July, and it announced new blockchain-based products that are exciting the market.
SoFi targets students and young professionals, but increasingly, it's targeting anyone who's looking for easy-to-use banking services with low fees and high savings rates.
It began its life as a lending company, and that's still its main segment. Lending revenue accounted for about half of the total in the 2025 second quarter, and as interest rates come down, the lending segment is gaining momentum. total originations increased 64% year over year in the second quarter, with a 66% increase in personal loans, 35% in student loans, and 92% in home loans. Total lending revenue was up 30% over last year, and contribution profit rose 24%.
Source Fool.com
