What happened The stock market was having a strong day on Tuesday, with all three major indices in positive territory and the Nasdaq having a particularly great day, the tech-heavy index higher by more than 3.5% at 10:30 a.m. EST. However, Social Capital Hedosophia Holdings V (NYSE: IPOE), the Chamath Palihapitiya-led SPAC set to take fintech start-up SoFi public, is a big standout, with shares up by more than 12% for the day. Image source: Getty Images. So what The reason for today's big move is likely a combination of a general broad-based rebound in technology-focused stocks, which have been hammered over the past week or so, and news about an acquisition SoFi is making. Specifically, SoFi announced that it has agreed to acquire Sacramento-based Golden Pacific Bancorp, a small bank with about $150 million in assets and three branches. But SoFi also plans to put $750 million of its own capital into the bank to prepare it for a national expansion. SoFi already offers some personal banking services, such as high-yield savings accounts and personal loans, and it received conditional approval for a banking charter a few months ago. Acquiring an existing small bank will allow SoFi to get its national banking infrastructure up and running much quicker than building a bank from scratch. Now what SoFi is expecting the consumer banking side of its business to grow dramatically in the coming years and is set to receive about $2.4 billion in cash when its pending SPAC merger closes (which should be within the next several weeks). Allocating a large chunk of its money to help capitalize a banking subsidiary could prove to be a great use of its resources, and that's why we're seeing the stock move higher in response. 10 stocks we like better than Social Capital Hedosophia Holdings Corp. VWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Social Capital Hedosophia Holdings Corp. V wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Matthew Frankel, CFP owns shares of Social Capital Hedosophia Holdings. V. The Motley Fool owns shares of Social Capital Hedosophia Holdings. V. The Motley Fool has a disclosure policy.Source