Here's Why SoFi's Bank Charter Is Driving the Stock Higher
The overall stock market was largely flat on Wednesday afternoon, with all three major indices up or down by less than 0.2% as of 1:40 p.m. ET. However, financial technology company SoFi (NASDAQ: SOFI) remained a major outperformer, with shares rising by more than 18% for the day.
SoFi already offers a range of banking products to its customers, including mortgages, personal loans, credit cards, and an alternative bank account (SoFi Money). So it might seem like getting a bank charter won't change much.
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Source Fool.com