What's Going On With SoFi Tech Stock Wednesday
Portfolio Pulse from Anusuya Lahiri
SoFi Technologies stock is up following a tentative debt limit deal likely to restore student loan payments. The debt ceiling deal terms would reinstate student loan payments and the accrual of interest near the end of August and pause the debt limit until early 2025.
May 31, 2023 | 3:16 pm
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SoFi Technologies stock is up due to a tentative debt limit deal that could restore student loan payments, potentially benefiting the company's student loan refinancing business.
The tentative debt limit deal would reinstate student loan payments and the accrual of interest near the end of August, which could lead to an increase in demand for SoFi's student loan refinancing services. This positive news has caused the stock price to rise, and it is likely to continue in the short term as the deal progresses.
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