SoFi Technologies (SOFI) shares dropped 8% after raising $1.59 billion through an equity offering, pushing the stock below a major support level. The stock is down nearly 19% from its 52-week high. Investors are cautious due to potential dilution from the offering, but there’s optimism for long-term growth, especially with Q4 earnings expected to double year-over-year. SoFi’s recent entry into the cryptocurrency market and AI-driven finance tools, along with the launch of “SoFiUSD” stablecoin, provide additional revenue streams. Analysts maintain a “Buy” rating with a $36 price target, despite cautious consensus ratings of “Hold” from other analysts.

Read more at Barchart: SoFi Stock Is Breaking Below Key Support Ahead of Q4 Earnings. Should You Buy the Dip or Stay Far Away?