SoFi Shows Wild Price Action After Supreme Court Axes Student Loan Forgiveness: The Bull, Bear Case
Portfolio Pulse from Melanie Schaffer
SoFi Technologies, Inc (NASDAQ:SOFI) experienced high volatility and was trading lower after the Supreme Court blocked President Joe Biden’s plan to cancel student debt. Despite this, SoFi, a provider of student loans, could potentially benefit from the news. The stock had risen higher on June 28 and June 29, negating a previous downtrend. If the stock bounces on Monday, it will confirm a new uptrend pattern.
June 30, 2023 | 6:30 pm
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SoFi Technologies' stock experienced high volatility and traded lower after the Supreme Court blocked the student debt cancellation plan. However, the stock could potentially benefit from this news.
The Supreme Court's decision to block the student debt cancellation plan caused high volatility in SoFi's stock. Despite the initial drop, the company, as a provider of student loans, could potentially benefit from this decision. The stock had previously been in a downtrend, but the recent rise on June 28 and June 29 negated this. If the stock bounces on Monday, it will confirm a new uptrend pattern.
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