SoFi stock powered more than 5% higher in Wednesday trading as Bank of America turned bullish on the neobanking company’s shares.
SoFi Technologies Inc.’s stock powered more than 5% higher in Wednesday trading as Bank of America turned bullish on the neobanking company’s shares.
SoFi SOFI, +5.65% was dealing with an “overhang” on student loans as President Joe Biden continued to push out the timing of a loan-payment moratorium, but he announced in late August that the government would forgive $10,000 in loans for borrowers making under $125,000 a year and end the pause on payments at the start of the new year.That move suggests a “light at the end of the tunnel” for SoFi, according to Bhatia.
Increased clarity on the government’s plans “should set the stage for student loan refi originations to resume in late 4Q22 as borrowers begin to receive payment notices from loan servicers,” Bhatia said.Additionally, he thinks SoFi could realize benefits from its marketing around the National Football League, as the company’s name sits atop the Los Angeles stadium where the Rams and Chargers play their games.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Stocks Making the Biggest Moves Premarket: SoFi, Nucor, Starbucks, CSX & MoreThese are the stocks posting the largest moves in premarket trading.
Baca lebih lajut »
Millions Of Student Loan Borrowers Will Get Refunds Of Payments Under Biden’s Loan Forgiveness InitiativeThe Education Department just revealed that millions of federal student loan borrowers will receive refunds of payments as part of a sweeping new federal student loan forgiveness initiative.
Baca lebih lajut »
Better Business Bureau warns of student loan forgiveness scamsScammers are already trying to cash in on student loan forgiveness.
Baca lebih lajut »