What Happened With SoFi Stock Today?
Portfolio Pulse from Erica Kollmann
SoFi Technologies Inc. (NASDAQ:SOFI) experienced heavy trading as the Federal Reserve announced its first interest rate cut in four years, reducing the federal funds rate by 50 basis points. SoFi's stock initially spiked but closed slightly down. The company could benefit from lower rates across its diversified financial offerings.
September 18, 2024 | 8:30 pm
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SoFi Technologies saw significant trading volume following the Fed's interest rate cut. The stock initially rose but closed slightly down. Lower rates could benefit SoFi's diverse financial products.
The Federal Reserve's rate cut is likely to benefit SoFi's financial products, potentially increasing demand for loans and other services. The stock's initial spike indicates positive investor sentiment, although it closed slightly down.
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