SoFi Technologies Inc. (SOFI) saw its stock price soar 5.01% during Thursday's intraday trading session, marking a significant upward movement for the financial technology company.

The surge appears to be driven by the company's release of positive first-quarter 2026 data from its Galileo Debit Spend Index. The analysis revealed a March surge in U.S. debit spending, with particularly strong growth in travel categories including hotels (up 38.1%), airlines (up 36%), and travel agencies (up 42.5%). Furthermore, home and garden spending outperformed, climbing 45.5% year-over-year. The data also indicated continued growth in digital payment adoption, with digital debit nearing two-thirds of all purchases.