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If it's growth investors are after, SoFi Technologies (NASDAQ: SOFI ) is one to put on the radar. Still, what's the cost of that kind of success in today's market? Let's look at what's happening in SOFI stock both off and on the price chart, then offer a risk-adjusted determination aligned with those findings.

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Virgin Galactic (NYSE: SPCE ), Opendoor Technologies (NASDAQ: OPEN ) and Clover Health (NASDAQ: CLOV ). They're the diversified, cutting-edge SPACs brought public by ex-Facebook exec and well-regarded institutional investor Chamath Palihapitiya.

Today, there's also Social Finance (or SoFi for short) and it may be his best yet. The fintech is Chamath's most recent SPAC after completing a reverse merger in June for $8.65 billion.

SOFI Stock and the Platform

In brief, SOFI offers investors the opportunity to own stock in a disruptive, holistic fintech platform. SoFi's retail "members" enjoy one-stop app access to diversified loan products, stock and crypto trading, wealth management and robo-advisor services under its digital-first ecosystem.

Call it what you will and that could rightfully be a "financial services productivity loop." Moreover, the smart strategy is catching fire with individuals as SoFi has more doubled its members to about 2.3 million over the past year. But there's more to SoFi, too.

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SoFi is also taking advantage of a growing neobank market and capitalizing on other fintech company's needs. SoFi's Galileo product offers critical application programming interfaces (APIs) for a range of digital banking functions. And it's working like gangbusters.

Galileo's base has reached 70 million and counting on the back of quarterly growth of 130%. What's more, that momentum is ramping up as the prior year, same quarter produced a 75% rise in client members.

There's More

And with those successes SOFI stock is enjoying record-busting sales, solid revenue growth that's expected to increase another 58% this year and EBITDA turning positive this year. We're not done though.

SoFi has also filed for a bank charter this year. The application is expected in November and if approved, should prove a significant win for investors.

Also, if you're a Los Angeles Rams or Chargers supporter, there's a good chance you already know of SoFi. The fintech enjoys brand rights to SoFi Stadium. But if you're just a fan of being a SOFI bull, there's good news there, too.

Bottom line, the exposure SoFi will receive over the next several years as stadium host of next year's Super Bowl, the World Cup in 2026 and Olympics in 2028, should prove a huge brand positive. Maybe it won't be Jimmy Kimmel LA Bowl largess, but it's big stuff, nevertheless.

SOFI Stock Weekly Price Chart

SoFi (SOFI) triangle support entry shaping up on weekly chart
Source: Charts by TradingView

There's a lot of positives working in SOFI's favor. Importantly, a lockout expiration hasn't been one of them. Insiders allowed to sell stock since late June helped SOFI with a decline that's gone from simple profit-taking to a larger and pattern damaging correction for many ordinary investors.

Since mid-June shares of SoFi are off nearly 40%. In the process, a classic cup-with-handle base popular among growth investors has also been dismantled. But while bulls have been sacked, there is good news to be aware of.

For one and for a stock of SOFI's caliber, corrections of this size are common during more challenging market environments. To which and given growth-centric Investor Business Daily's own Innovator IBD 50 ETF (NYSEARCA: FFTY ) squaring off with a similar bearish cycle, approaching SOFI's current weakness as a longer-term opportunity where growth meets value offers increased validity.

A Promising Pattern

Technically and on the weekly price chart, there's another reason for SOFI stock investors to be upbeat.

Currently SOFI is forming a higher-low patter doji pattern. With shares stationed modestly above the lifetime 76% retracement level, the trading activity also looks promising as a support-style buy decision within a developing larger triangle base.

This type of purchase isn't for everyone of course, including strict followers of IBD's growth philosophy. Still, if an oversold stochastics signals a bullish crossover and SOFI shares confirm a pivot low, a January $17.50/$25 bull call spread offers other bullish investors a well-positioned chance to cheer something other and more meaningful than the Jimmy Kimmel Bowl later this year.

On the date of publication, Chris Tyler did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris Tyler is a former floor-based, derivatives market maker on the American and Pacific exchanges. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits.