SoFi Shares Climb 2.9% After Cosmos Fund Window and Stablecoin Launch
SoFi Technologies shares rose 2.9% as Nasdaq and S&P 500 declined, following launch of a March 5–30 private investment window offering stakes in Colossal Biosciences, OpenAI and Perplexity AI via its Cosmos Fund. The company also partnered with BitGo to issue SoFiUSD, a U.S. dollar–pegged stablecoin on a blockchain.
1. Market Reaction and Stock Movement
Shares of SoFi Technologies rose 2.86% on Thursday as major indices, including the Nasdaq and S&P 500, both slipped, reflecting investor enthusiasm around new product launches.
2. Cosmos Fund Private Window Launch
From March 5 through March 30, accredited investors can access private offerings in Colossal Biosciences, OpenAI and Perplexity AI via SoFi’s Cosmos Fund, designed to provide differentiated exposure to category-defining startups.
3. Stablecoin Infrastructure Partnership
SoFi Bank selected BitGo Bank & Trust to power issuance of SoFiUSD, the first U.S. dollar–pegged stablecoin issued by an FDIC-insured national bank on a permissionless blockchain, expanding institutional distribution channels.
4. Earnings Estimates and Valuation
SoFi will report next on April 28, with consensus EPS estimates up to $0.12 from $0.06 and revenue at $1.05 billion, implying a premium 47.9x P/E alongside mixed analyst price targets ranging from $21 to $31.