Why Shares of SoFi Cooled Off Today
Shares of the one-stop-shop financial services company and digital bank SoFi (NASDAQ: SOFI) fell roughly 10% today after a number of analysts cautioned that the stock is due for a breather after a huge recent rally.
The passage of a bill to suspend the debt ceiling until 2025 also ended the student loan moratorium. This is a big deal for SoFi because the company has a student loan refinancing business that was essentially its largest revenue driver before the moratorium went into place in 2020.
With SoFi having risen 100% this year before today, analysts have cautioned that the fintech is likely due for a break.
Source Fool.com
