SoFi Shares Slide Nearly 6% Despite PDT Rule Removal, Eyes SpaceX IPO
SOFI•Shares of SoFi Technologies slid nearly 6% this week following the removal of the $25,000 Pattern Day Trader equity requirement, marking its worst weekly drop in a month. SoFi is positioned to gain from heightened retail trading and potential customer inflows ahead of SpaceX’s IPO later this month.
1. PDT Rule Change and Stock Performance
Shares of SoFi Technologies fell nearly 6% this week, marking its worst weekly performance in a month. The decline followed the abolition of the Pattern Day Trader rule, which previously mandated $25,000 minimum equity for retail margin accounts, as brokerages transition to intraday margin requirements and risk-based monitoring.
2. SpaceX IPO's Potential Impact on SoFi
SoFi is preparing to leverage the expected surge in retail trading ahead of SpaceX’s IPO later this month. The mega offering could serve as a customer acquisition opportunity, with SoFi planning to grant eligible retail investors access to shares, potentially boosting deposit balances and transaction revenue.
