Stock Track | SoFi Stock Soars on Lending Optimism and Trump Policy Outlook

Stock Track11-12

Shares of SoFi Technologies Inc. (SOFI) surged over 10% on Sunday, extending a remarkable rally fueled by growing investor confidence in the fintech lender's growth prospects.

The stock's surge was driven by a combination of industry tailwinds and company-specific factors. Strong quarterly results from rival personal lender Upstart Holdings Inc. (UPST) signaled improving conditions in the lending market, fueling expectations that SoFi could also benefit from rising loan originations and higher demand for its personal loan and student loan refinancing products.

Additionally, investors are bidding up SoFi on hopes that policies from President-elect Donald Trump could open up new opportunities for private student lenders. Trump has voiced a desire to abolish or restructure the U.S. Department of Education, which if enacted could reduce the federal government's dominant role in the student loan market and allow companies like SoFi to capture a larger share.

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