SoFi Technologies Inc (NASDAQ:SOFI) shares are trading lower on Tuesday, despite a lack of company-specific news for the session. The downward momentum continues a difficult five-day period for the fintech company, which has seen its stock slide over 12%. Here’s what investors need to know.

What To Know: While Morgan Stanley on Tuesday raised its price target on SoFi to $18, the firm maintained its Underweight rating on the stock. This bearish stance from a major Wall Street firm may be fueling investor concerns and contributing to the pullback.

SoFi has an average price target of $14.86, well below current levels. The stock has rallied approximately 68% year-to-date, according to Benzinga Pro.

Broader market jitters surrounding a potential government shutdown could also be weighing on the stock. With lawmakers at an impasse, the resulting “data blackout” from a shutdown would suspend the release of crucial economic statistics.

This uncertainty directly impacts the Federal Reserve’s ability to make informed decisions on interest rates, a key factor for financial companies like SoFi. The lack of clear economic data could potentially lead investors to pull back from growth-sensitive stocks amid worries of broader market volatility.

Benzinga Edge Rankings: Despite the recent pullback, Benzinga Edge rankings underscore the stock’s recent strength, assigning it a Momentum score of 97.23 and a Growth score of 96.63.

SOFI Price Action: SoFi Technologies shares were down 5.89% at $25.94 at the time of publication Tuesday, according to Benzinga Pro. Over the past month, SoFi has gained about 6.1% versus a 3.9% rise in the S&P 500. The stock is trading near its 52-week high of $30.30.

SoFi stock is trading above its 50-day moving average of $24.57, indicating a potential support level, while the 100-day and 200-day moving averages at $20.21 and $17.07, respectively, suggest longer-term bullish trends. Resistance is observed near the recent high of $30.30, while the recent low of $25.70 may serve as a short-term support.

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How To Buy SOFI Stock

By now you're likely curious about how to participate in the market for SoFi Technologies – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

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