Why SoFi Technologies Rose 22.2% in May

Shares of SoFi Technologies (NASDAQ: SOFI) rose 22.2% in May, according to data from S&P Global Market Intelligence.

Part of the reason for last month's bounce-back was that SoFi had been absolutely decimated entering May, after a 35.2% plunge in April alone. During the prior month, management preannounced a lower guide for the year after the Biden administration postponed the resumption of student loan repayments until later in the year.

Still, there is more to SoFi than just student loans, as the company showed progress developing its fintech ecosystem on its first-quarter earnings release.

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Source Fool.com