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Barchart
Wajeeh Khan

SoFi Stock Breaks Below Key Moving Averages on $1.5B Offering. Should You Buy the Dip?

SOFI Dan Dolev SoFi Technologies

SoFi Technologies (SOFI) stock tanked roughly 7% on Dec. 5 after the fintech announced a $1.5 billion convertible notes offering, raising immediate dilution concerns. 

The selloff pushed SOFI decisively below its 100-day moving average (MA) on Friday, indicating continued bearish momentum in the near to medium term. 

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