Why SoFi Technologies, Upstart, and Affirm Rose This Week
Shares of SoFi Technologies (NASDAQ: SOFI), Upstart (NASDAQ: UPST), and Affirm Holdings (NASDAQ: AFRM) rose double-digits this week, up 11.9%, 10.6%, and 29%, respectively, as of the end of Thursday's trading.
Each had already seen their shares under pressure heading into this week due to inflation fears and negative analyst notes during the week prior. However, last Friday, two favorable economic reports, as well as favorable commentary from CEOs of some large banks, helped sentiment turn around -- at least for the moment.
Last week, all three were hit by the June inflation report, which came in hotter than expected. That prompted fears the Federal Reserve would have to move quickly to tame inflation, perhaps triggering a recession.
Source Fool.com
