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SoFi can capture a greater share of the lending market, partly because of billions of new deposits added since receiving its bank charter.
Following negotiations, a provision to end the temporary moratorium on federal student loan payments and interest accrual has been included in the bill. The development could kick-start SoFi's performance later this year, and investors have responded by bidding up the stock. The debt ceiling bill deal has been passed in the Republican-controlled House of Representatives, and it will very likely now pass in the Democrat-controlled Senate before being signed by President Biden.
In this video, I will talk about why SoFi Technologies (NASDAQ: SOFI) soared recently and go over some comments made by CEO Anthony Noto during a J.P. Morgan conference. *Stock prices used were from the trading day of May 31, 2023.
Fool.com contributor and finance professor Parkev Tatevosian digs deeper into how SoFi (NASDAQ: SOFI) is becoming a major player in the personal loan industry and the implications it has for SoFi stock investors.
SoFi Technologies (NASDAQ: SOFI) pushed higher today on news regarding the new debt ceiling deal. SoFi stock is up over 54% year to date. Is it headed higher, or is it time for a breather? The video below provides details on the news and an update on the stock, including technical analysis.
SAN FRANCISCO, May 31, 2023--SoFi Technologies, Inc. (NASDAQ: SOFI), the digital personal finance company, today announced plans to host its 2023 annual meeting of stockholders (the "2023 Annual Meeting") on Wednesday, June 14, 2023, at 7:00 a.m., Pacific Time (10:00 a.m. Eastern Time). The 2023 Annual Meeting will be held virtually.
The Yahoo Finance Live team breaks down some of the top moving stocks of the day. SoFi shares jumped on the debt deal moving through Congress. Under the terms of the deal, student loan repayments would restart, which would be good for SoFi's business. Advance Auto Parts shares plummeted more than 30% after slashing its guidance and dividend. Shares of both HP Inc. and Hewlett Packard Enterprise ended the day lower after the companies reported earnings that didn't meet investor expectations. Click here to see what HPE's CFO had to say about his company's results.
The student loan moratorium has weighed on SoFi stock for nearly two years. Investors are betting that headwind may soon be out of the way thanks to the new debt ceiling deal.
Shares of the one-stop-shopping financial services company and digital bank SoFi (NASDAQ: SOFI) traded more than 11% higher as of 12:39 p.m. ET today in the hope that Congress will soon pass a bill to suspend the debt ceiling. After months of negotiations, President Biden and Speaker of the House Kevin McCarthy agreed on a proposal to suspend the debt ceiling until the first quarter of 2025. Within the bill, McCarthy negotiated several concessions, including the end of the student loan moratorium, which is a pause on federal student loan payments that first went into place more than three years ago at the very beginning of the pandemic.
Fool.com contributor and finance professor Parkev Tatevosian considers how much further SoFi (NASDAQ: SOFI) can grow before hitting a ceiling. *Stock prices used were the afternoon prices of May 27, 2023.
The stock market was having a generally strong morning on Tuesday on the news that a tentative agreement had been reached to lift the debt ceiling and avoid a catastrophic default. As of 9:50 a.m. ET today, SoFi was higher by 7%, making it one of the best-performing stocks in the financial sector. The debt ceiling bill itself is good news for bank stocks and the economy in general, but there is one provision that is particularly good for SoFi.
Investing.com -- Stocks are mixed on Tuesday on hopes about a tentative agreement on the debt ceiling despite objections from some lawmakers. Here are the market movers for May 30.
A grand ambition may be perfect for some investors, while for others, it might be too risky. Fool.com contributor and finance professor Parkev Tatevosian sheds light on SoFi's (NASDAQ: SOFI) long-term strategy.
SoFi (NASDAQ: SOFI) has added billions in deposits as other banks have lost billions. Fool.com contributor and finance professor Parkev Tatevosian elaborates on how SoFi has achieved this impressive feat.
Despite the market's recent volatility, some companies are offering investors sizzling stories worthy of consideration.
SoFi Technologies and Upstart have made tremendous progress. But they each need 1 thing to help push them over the top.
SoFi Technologies, Inc. (SOFI) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Have you noticed growth stocks are making a comeback? The Vanguard Growth ETF, which contains heaps of growth stocks, is up 21% this year. If you've been investing in growth stocks for a while you probably remember they started soaring last summer and then lost all those gains by the end of 2022.
The company hasn't been able to make any whole loan sales in its personal loan portfolio for two quarters now.
SoFi (NASDAQ: SOFI) and Upstart (NASDAQ: UPST) are preparing themselves for a potential recession. That could mean decreasing lending activity or tightening lending standards. In this video, Fool.com contributor and finance professor Parkev Tatevosian considers each company's short- and long-term prospects and decides which is his top stock to buy.
The digital financial institution posted adjusted revenue of $460 million and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $76 million in the first quarter, both representing huge year-over-year gains. Although SoFi is a digital bank, the products and services it offers are really the same as what other banks provide. Despite its rapid growth and innovative potential, SoFi has yet to produce consistent profits.
Traditional brick-and-mortar financial institutions like Silicon Valley Bank and First Republic, along with investment bank Credit Suisse, all collapsed within a few weeks of one another. While this made for dramatic headlines about a potential banking contagion, some other developments in the banking industry may be more interesting. The company's chief executive officer, Anthony Noto, has repeatedly told investors that his vision is to turn SoFi into the Amazon Web Services (AWS) of banking.
Down by between 23% and 78% in the past 12 months, these former growth stock darlings now face slowing growth and lower share prices. Shares of PayPal (NASDAQ: PYPL) have dropped by more than 15% since it released its first-quarter earnings report in early May, continuing the march downward they began after peaking in 2021. In light of its disappointing forecast for 7% revenue growth in the second quarter, investors continued to bid down the payments behemoth as its days as a high-flying growth stock receded further into the rear-view mirror.
SAN FRANCISCO, May 19, 2023--SoFi (NASDAQ: SOFI), the digital personal finance company, today announced that it will participate in three upcoming investor conferences. SoFi’s Chief Executive Officer, Anthony Noto, will participate in moderated fireside chat discussions at JP Morgan’s Annual TMT Conference and Piper Sandler’s Fintech Conference. SoFi’s Chief Financial Officer, Chris Lapointe, will participate in a moderated fireside chat discussion at the Morgan Stanley US Financials, Payments a
SoFi Technologies (NASDAQ: SOFI) and PayPal (NASDAQ: PYPL) are in different stages of growth in the business cycle. Fool.com contributor and finance professor Parkev Tatevosian reveals his pick for the best growth stock to buy.