SoFi Shares Fall 6.69%, Extending Decline Since Oct. 9

SoFi Technologies shares fell 6.69% Wednesday to $14.22, extending a slide that left them 10% below their Oct. 9 close; the decline coincided with September’s U.S. inflation release.

The shares ended the session down $1.02 from the Oct. 13 closing price of $15.24. Their Oct. 14 close was $1.58 below the $15.80 close on Oct. 9. As of Oct. 13, SoFi shares were already down about 40% to 42% for the year, as described in earlier coverage of the company’s 2026 decline.

The September Consumer Price Index (CPI) report was released at 8:30 a.m. ET (12:30 UTC), before the stock market closed. CPI rose 0.6% from August on a seasonally adjusted basis and 3.7% over 12 months, up from 3.4% through August. Core CPI increased 0.3% for the month and 2.6% over 12 months. The timing alone does not establish that inflation caused SoFi’s decline.

SoFi’s latest reported quarter ended June 30. The company reported $1.219 billion in GAAP net revenue and $156.6 million in GAAP net income. Adjusted net revenue was $1.206 billion, up 40% from a year earlier. SoFi released the results on July 29.

On Oct. 8, SoFi Tech Solutions announced a card program in Mexico with Orbi and Mastercard. Orbi customers can spend from crypto balances, which are converted at the time of purchase so merchants receive traditional currency.