Stock Market Today, March 3: SoFi Technologies Rises on Mastercard Stablecoin Deal

MrDecoder · 2026-03-04T16:13:38+00:00

SoFi Technologies closed at $18.61, up 1.22%, driven by a partnership with Mastercard and CEO Anthony Noto's $1 million share purchase. Despite recent declines, the firm has grown 48% since its IPO in 2021.

MrDecoder

2026-03-04 16:13:38

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NASDAQ: SOFI

SoFi Technologies

Today’s Change

(1.22%) $0.23

Current Price

$18.61

Key Data Points

Market Cap

$23B

Day’s Range

$17.69 - $19.04

52wk Range

$8.60 - $32.73

Volume

2.1M

Avg Vol

57M

Gross Margin

61.06%

SoFi Technologies (SOFI +1.22%), a digital-first financial platform, closed Tuesday at $18.61, up 1.20% bouyed by two pices of positive news. The firm deepened its stablecoin partnership with Mastercard (MA +0.58%). Plus, an SEC filing revealed Chief Executive Officer Anthony Noto’s roughly $1 million insider share purchase.

Trading volume reached 71.2 million shares, coming in 24% above its three-month average of 57.3 million shares. SoFi Technologies IPO’d in 2021 and has grown 48% since going public.

How the markets moved today

The S&P 500 (^GSPC 0.94%) fell 0.94% to 6,817, while the Nasdaq Composite (^IXIC 1.02%) slipped 1.02% to 22,517. Within financial technology (FinTech), industry peers LendingClub (LC 1.40%) closed at $14.86, down 1.26%, and Upstart (UPST 0.11%) ended at $28.24, down 0.14%, as investors assessed competitive lending dynamics.

What this means for investors

Today’s slight gain is good news for SoFi Technologies investors. While the stock has gained 37% in the past year, it has fallen by over 24% in the past six months as investors question fintech valuations.

Under SoFi’s partnership with Mastercard, the firm’s stablecoin SoFiUSD will be offered as a settlement option across the payment network. The stablecoin – a tokenized version of the U.S. dollar – is issued by SoFi Bank. The deal puts both firms at the forefront of the evolving on-chain finance world.

Yesterday’s $1 million open-market share purchase from Anthony Noto was his first in over a year and could signal insider confidence. It comes after February’s news that Board Vice Chairman Steven Freiber had sold shares worth $1.9 million last month.

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