Why Shares of Upstart, SoFi, and MoneyLion All Rose Today
Shares of many fintech stocks bounced higher on the second-to-last day of trading in 2021, which seemed to be related to a jobless claims report that was better than expected. Shares of the artificial intelligence personal loan company Upstart (NASDAQ: UPST) rose nearly 5% today, while shares of the digital financial services company SoFi (NASDAQ: SOFI) and fintech MoneyLion (NYSE: ML) both rose more than 10%.
Weekly jobless claims for the week ending Dec. 25 totaled 198,000, beating the 205,000 forecast, which is near the lowest level in 50 years.
Gus Faucher, chief economist at PNC, wrote in a research note:
Source Fool.com
