Why SoFi Technologies Stock Is Surging Today
Portfolio Pulse from Ryan Gustafson
SoFi Technologies (NASDAQ:SOFI) stock is surging due to a tentative debt limit agreement that could reinstate student loan payments and interest accrual by the end of August. The deal would also suspend the debt limit until early 2025.

May 30, 2023 | 7:14 pm
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SoFi Technologies stock is up as a tentative debt limit agreement could reinstate student loan payments and interest accrual, benefiting the company's student loan refinancing business.
The tentative debt limit agreement could reinstate student loan payments and interest accrual by the end of August, which would benefit SoFi Technologies as it offers student loan refinancing. The company had even sued the government earlier this year to end the pause on student loan payments. As a result, the stock price is surging due to the potential positive impact on the company's business.
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