SoFi Technologies Inc. ($SOFI) has experienced a significant surge in its stock price, recently crossing the $11 mark and reaching a three-year high. As of October 24, 2024, the stock has increased by 42% over the past month, driven by favorable market conditions and positive investor sentiment. Key factors contributing to this rise include a recent upgrade from Mizuho, which raised its price target from $12 to $14, citing positive trends in lending and macroeconomic conditions. Additionally, a decrease in interest rates and improved pricing on loans are expected to enhance loan volumes, further boosting the company's outlook. Despite the stock's rise, over 180 million shares remain sold short, indicating potential volatility ahead if the company reports strong earnings in its upcoming Q3 results.