SoFi Technologies reports strong home loan performance, stock initially up, struggles to break resistance.

.July 31, 2024 06:34:35 AM

SoFi Technologies Inc (NASDAQ: SOFI) recently reported strong performance in its home loans segment, initially boosting its stock price before a slight dip. The stock has been unable to break the $8 resistance level since March, indicating challenges in sustaining growth. Year-to-date, SOFI’s shares have dropped by 26.5%, underperforming in the fintech sector amidst technological advancements and increased competition. In contrast, PayPal Holdings (PYPL) has seen positive growth in 2024 following a successful earnings report, highlighting the varying fortunes within the fintech industry.