SoFi books 15% gain this week
Fintech firm SoFi Technologies added to the recent romp it has enjoyed in the markets Thursday, popping 4% today after announcing a half-billion-dollar securitization deal that showed its ability to keep the capital that its business model requires flowing. The stock is up 15% since market close last Friday.
That stock has been on a run, more than doubling over the last five months and outpacing other fintech firms like PayPal, Block, and Affirm.
All these companies have enjoyed gains, largely due to expectations that the incoming Trump administration would ease up on government scrutiny of the fintech sector. But the excitement tied to the much smaller SoFi may stem from the fact that it recently began reporting quarterly profits for the first time, and has posted five straight quarters in the black.
All these companies have enjoyed gains, largely due to expectations that the incoming Trump administration would ease up on government scrutiny of the fintech sector. But the excitement tied to the much smaller SoFi may stem from the fact that it recently began reporting quarterly profits for the first time, and has posted five straight quarters in the black.
