After watching growth stocks get pummeled mercilessly for months on end, it looks like stock markets are finally ready to reward businesses for outstanding execution again. Shares of PubMatic (NASDAQ: PUBM), SoFi Technologies (NASDAQ: SOFI), and Duolingo (NASDAQ: DUOL) are way up since reporting results from the second quarter of 2022.
Shares of fintech stocks Upstart Holdings (NASDAQ: UPST), SoFi Technologies (NASDAQ: SOFI), and Affirm Holdings (NASDAQ: AFRM) rocketed higher on Wednesday, up 13.9%, 6.9%, and 13.1%, respectively, as of 1 p.m. ET. There's no big secret as to what is moving these beaten-down stocks today: a better-than-feared inflation report from the Bureau of Labor Statistics this morning.
SAN FRANCISCO, August 09, 2022--SoFi Technologies, Inc. ("SoFi"), the digital personal finance company, today announced that SoFi Invest1 is launching two new ETFs, SoFi Web 32 (NASDAQ: TWEB) and SoFi Smart Energy (NYSE: ENRG), designed to make it easier than ever for people to invest in two of the world’s fastest-growing industries and put their dollars into the causes and technology they are most excited about.