Stock Track | SoFi Technologies Soars 5.01% Intraday on Strong Q1 Debit Spend Data
Stock Track
May 29
SoFi Technologies Inc. (SOFI) saw its stock price soar 5.01% during Thursday's intraday trading session, marking a significant upward movement for the financial technology company.
The surge appears to be driven by the company's release of positive first-quarter 2026 data from its Galileo Debit Spend Index. The analysis revealed a March surge in U.S. debit spending, with particularly strong growth in travel categories including hotels (up 38.1%), airlines (up 36%), and travel agencies (up 42.5%). Furthermore, home and garden spending outperformed, climbing 45.5% year-over-year. The data also indicated continued growth in digital payment adoption, with digital debit nearing two-thirds of all purchases.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.