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SoFi Jumps 12% in Nasdaq Debut After Palihapitiya SPAC Merger

  • CEO Noto says firm is preparing to offer IPOs to Main Street
  • Chamath Palihapitiya has blasted SoFi rival Robinhood
SoFi Will Give Members Early Access To Initial Public Offerings
Photographer: Gabby Jones/Bloomberg

SoFi Technologies Inc., the student-loan operator and stocks-trading platform, jumped 12% in its Nasdaq debut after merging with investor Chamath Palihapitiya’s blank-check company earlier this year.

The shares, which trade under the ticker SOFI, rose to $22.65 Tuesday from $20.15 Friday, when it still traded under the SPAC ticker IPOE. That compares with an all-time high of $25.78 in February.