Why Fintech Stocks Upstart, SoFi, and Affirm Were Flying Today
Shares of fintech firms Upstart (NASDAQ: UPST), SoFi Technologies (NASDAQ: SOFI), and Affirm (NASDAQ: AFRM) were rallying today, up 6.1%, 3.7%, and 7.9%, respectively, as of 3:36 p.m. ET.
These three stocks are down severely this year and are rising off their all-time lows, so a big daily move up is not surprising. The question is, do today's reasons for their rise indicate a bottom, or just a dead-cat bounce?
Today's rally appears to be all about interest rates.
Source Fool.com
