www.marketwatch.com
SoFi Technologies stock price dropped over 6% in after-hours trading following the announcement of a $1.5 billion stock offering. This offering dilutes existing shares, which is a common reason for a stock price decline. The offering aims to raise capital for the fintech company, although the specific purpose wasn’t detailed in the initial announcement. Investors often react negatively to such offerings as it suggests the company needs to raise funds, potentially impacting earnings per share for current shareholders.
