SoFi Technologies (SOFI) shares fell more than 6.5% on Friday, June 5, 2026.
A stronger-than-expected U.S. jobs report triggered a broad sell-off in technology and growth stocks. This economic data fueled investor concerns regarding potential interest rate hikes.
Earlier in the week, a securities litigation firm began investigating SoFi following a critical short-seller report. That report questioned the accuracy of the company’s financial reporting.
The Friday decline aligned with negative performance across the wider fintech sector and growth-oriented equities. Analysts found reports of regulatory scrutiny to be unsubstantiated as the primary driver for the movement.