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Just noticed SoFi popped 3.55% on Monday after their CEO Noto dropped a million bucks buying 56k shares. That kind of insider move doesn't happen every day, so people are reading it as a solid confidence signal. Stock jumped another 4% during the session on the news.
Context: SoFi was down hard from its peak before this, so Noto's buying spree is getting attention. Market overall was pretty flat—S&P 500 barely moved at 0.02%, Nasdaq up 0.36%. Other fintech names like LendingClub and Upstart were also edging up, so lending stocks seem to be stabilizing after a rough stretch.
Analysts at JPMorgan and a couple others had already given SoFi buy ratings back in February, which probably helped the sentiment. Not saying this is a buy signal or anything, but Noto putting real money in definitely got people talking. Trading volume spiked to 71.7M shares, way above the usual average. Curious if this momentum sticks or if it's just a bounce.