SoFi Technologies stock dips after SoftBank starts selling off SoFi shares

Justin Sullivan SoFi Technologies (NASDAQ:SOFI) shares slipped 3.1% in Monday after-hours trading after the fintech company said SoftBank Group (OTCPK:SFTBY) (OTCPK:SFTBF) decided to sell some or all of its stake in SOFI, according to a filing. SoftBank (OTCPK:SFTBY) holds more than 83M of the SoFi's (SOFI) shares outstanding, about a 9.0% stake in the company. The shares may be sold in the open market or in private transactions. In fact, the share sales have started. On Aug. 5, SoftBank (OTCPK:SFTBY) sold 5.38M shares of SoFi (SOFI) at an average weighted price of $7.99. On Aug. 6, it sold 6.68M more shares at an average weighted price of $8.17 per share. Last week, SoFi (SOFI) stock soared after delivering Q2 revenue and adjusted EBITDA that beat Wall Street expectations and boosted its guidance