On July 29, SoFi Technologies Inc. fell 6.22% in pre-market trading, trading at approximately $15.70/share, with turnover of $74.67 million.

The decline came despite the company reporting Q2 results that exceeded expectations, with adjusted EPS of $0.12 beating the $0.11 consensus estimate and revenue of $1.206 billion surpassing the $1.121 billion forecast. The company also raised its full-year adjusted net revenue guidance to $4.75 billion-$4.85 billion, above the FactSet estimate of $4.70 billion.

However, the full-year adjusted EBITDA guidance was maintained at approximately $1.6 billion, merely matching market expectations with no upward revision on the profit side. Given that the stock had already rallied over 6% in the two trading days prior to the earnings release — driven by optimistic expectations and CEO insider buying at a 45% discount to the 52-week high — the strong-but-not-stellar guidance triggered profit-taking pressure as the bullish thesis was already priced in.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)