Traders go wild for fintech after profits make headlines

January 29, 2024
1 min read

TLDR: SoFi Technologies reported fourth-quarter earnings of 2 cents per share, swinging to a profit compared to the same time last year. The fintech company attributed its strong performance to outperformance in its non-lending segments, with total deposits rising 19% to $18.60 billion for the quarter. In response to the positive earnings report, SoFi’s stock price increased by 20.3%. The options market also experienced high activity, with 450,000 calls and 151,000 puts exchanged so far. Many analysts still rate the company as a “hold” or worse, but upgrades and price-target hikes may be forthcoming. SoFi’s stock is currently trading at its highest level since January and is on track for its best single-day percentage gain since August 2022.

Previous Story

Goldman Sachs’ top exec, Jim Esposito bids farewell, sets sail

Next Story

Fenergo jazzes up as new CCO Andrew Brandman revolutionizes client growth.

Latest from Blog