SoFi Stock Surges Amid Rate Cut Optimism
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BTCCSquare news:
SoFi shares have skyrocketed 166% over the past year, dramatically outpacing the tech-heavy index's 24% gain. The fintech's robust financial performance—including a 43% revenue surge and 846,000 new customers last quarter—has drawn market enthusiasm as it nears record valuations.
The Federal Reserve's recent rate cut, its first since December 2024, signals a potential boon for SoFi's lending business. With two additional reductions anticipated this year, cheaper borrowing costs could accelerate the bank's $8.8 billion loan origination momentum. Lower rates historically fuel consumer spending and business investment—tailwinds for this digital-first financial disruptor.
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