Published on 14 Oct 2024 on Schaeffer's Investment Research · via Yahoo Finance
Lending Stock Pops on Billion-Dollar Expansion Deal
Consumer lending name SoFi Technologies Inc (NASDAQ:SOFI) is charging higher this afternoon, following an announcement that the company has struck a $2 billion expansion deal with Fortress Investment Group. In response, SOFI is up 10% to trade at $9.99, at last glance.
Thanks today's bull gap, SoFi Technologies stock is now fighting resistance at the $10 level, while also managing a climb into the black for 2024. The shares have added 22% over the past 12 months and added 65% since its August bottom.
So far, an impressive 576,000 calls and 197,000 puts have exchanged hands, 4 times the average daily volume. Most popular is the October 10 call, where new positions are being bought to open.