SoFi Jumps 12% in Nasdaq Debut After Palihapitiya SPAC Merger

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.

SoFi, which started as an online lender for students and homeowners, has expanded into payment and investing services, allowing users to trade equities and cryptocurrencies. The company combined with Social Capital Hedosophia Holdings Corp. V in January, a ...