Why SoFi Technologies Stock Was Up 4.3% Today
SoFi Technologies (NASDAQ: SOFI) was up on Tuesday, jumping about 4.3% as of market close. It is trading at about $5.68 per share.
The major indexes were mixed on Tuesday, as the S&P 500 was down 8 points (0.2%), the Dow Jones Industrial Average was off 392 points (1.1%), while the Nasdaq Composite was down 16 points (0.14%).
It is fourth-quarter earnings season, and the market took a bit of a hit today as some of the big bellwether banks reported Tuesday, including Goldman Sachs and Morgan Stanley. Goldman Sachs had its worst earnings miss in a decade, as it got hit hard by the slowdown in the investment banking business. But Morgan Stanley beat estimates, even though its investment banking arm struggled. However, it was buoyed by strength in its wealth management and trading businesses.
Source Fool.com
