Sofi Stock Is Failing to Break $20 This Year, but You Shouldn’t Give Up Yet

2026 has been a challenging year for SoFi (SOFI) investors, with the stock plummeting around 27% this year. After peaking above $30 last year, the stock has struggled to breach $20 for several months. While there have been occasional rallies and a 14% gain in the last month, the stock seems to falter whenever it nears the $20 mark.

The recent upward trend is fueled by optimism surrounding cryptocurrencies, as SoFi recently revived its crypto trading business, a move that coincided with a global digital asset market crash. However, the crypto market rebounded after President Donald Trump advocated for the passage of the Digital Asset Market Clarity (CLARITY) Act.

Despite the macroeconomic headwinds and concerns over increasing interest rates, SoFi's growth potential remains attractive. The company has added over a million members in each of the last three quarters, with a record high of 200,000 Plus subscribers in Q2 2026. Additionally, SoFi's cross-sell rate improved in the June quarter, with new products being purchased twice as often as the new members.

The bank has also expanded its product portfolio and ventured into the subscription space, boasting over 200,000 Plus subscribers. The company's tech platform business, despite losing a major client, continues to expand its capabilities through acquisitions. SoFi's unique blend of a traditional bank and a rapidly growing fintech allows it to access cheap deposits, giving it an edge over competitors reliant on expensive wholesale borrowing.

With its earnings expected to grow at double-digit rates, many analysts believe SoFi's stock will soon surpass the $20 mark.