SoFi Technologies Inc. stock soared 5.38% during Thursday's intraday trading session. The significant upward move represents a notable reversal from recent trading activity.

The surge appears to be a technical rebound following a sharp decline of over 15% in the prior session. That selloff was triggered by investor disappointment after the company maintained its full-year guidance unchanged despite reporting record first-quarter results, including a 43% year-over-year increase in GAAP net revenue to $1.1 billion and adjusted EPS that doubled from the prior year.

Market participants view the current intraday recovery as a correction from what was perceived as an oversold reaction to the unchanged forward outlook, given the strength of the quarterly performance.