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Here's Why SoFi, Affirm, and Upstart Are Rising This Week

TheMotleyFool

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Here's Why SoFi, Affirm, and Upstart Are Rising This Week: https://g.foolcdn.com/editorial/images/694346/generic-upward-8-getty.jpg

Several fintech stocks bounced higher this week, apparently due to the market's upbeat response to the second-quarter report that digital bank SoFi Technologies (NASDAQ: SOFI) delivered Tuesday.

For the week, shares of SoFi were up by roughly 30% at the close of trading Thursday, according to data provided by S&P Global Market Intelligence. Shares of the "buy now, pay later" (BNPL) company Affirm (NASDAQ: AFRM) traded nearly 20% higher, and shares of the artificial intelligence lender Upstart (NASDAQ: UPST) were up by about 18%.

SoFi reported a net loss of $0.12 per diluted share on total revenue of $362.5 million, with revenue beating analysts' consensus estimates for the quarter.

Source Fool.com

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