SoFi Technologies Stock Rises on Monday: What's Happening? – SoFi Techs (NASDAQ:SOFI)

SoFi Technologies Inc SOFI Shares are trading higher on Monday after the company announced a $2 billion loan deal with Fortress Investment Group.

What happened: SoFi has announced a $2 billion retail lending platform business agreement with funds managed by subsidiaries of Fortress Investment Group.

The agreement is expected to expand SoFi's capabilities in the lending platform business. SoFI refers pre-qualified borrowers to lending partners and originates loans on behalf of third parties.

“SoFi’s lending platform business is an important part of our strategy to serve the financial needs of more members and diversify into less capital-intensive and more fee-based revenue streams,” he said Anthony NotoCEO of SoFi.

See also: What's going on with SoFi Technologies stock?

Is SOFI a good stock to buy?

When deciding whether a stock is a good buy, an investor can make several decisions. In addition to the valuation metrics and price history that you can find on Benzinga's stock pages – such as SoFi's – there are factors such as whether or not a company pays a quarterly dividend or buys a large portion of its shares .

These are called capital allocation programs. SoFi doesn't pay a dividend, but clearly has some ways to deliver value to shareholders. Search Benzinga's Dividend Calendar to find the next company to pay a dividend and see what return you could get by owning a share of the company.

Buyback programs are obviously different and very different. A company may authorize a repurchase program and may purchase shares at its discretion over the period of time the repurchase is authorized. A look at the latest SoFi news often reveals whether or not the company has recently approved a repurchase program. Buyback programs usually serve to support share prices and to maintain demand.

SOFI price promotion: According to Benzinga Pro, SoFi shares were up 4.88% at $9.45 at the time of publication.

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