What's Going On With SoFi Technologies Stock Thursday?

SoFi Technologies, Inc. SOFI shares are sliding lower on Thursday amidst overall market weakness.

What To Know:

SOFI stock has seen increased volatility following the recent debt ceiling deal and the U.S. Supreme Court ruling to block President Biden's plan to cancel $430 billion in student debt. SoFi is a fintech company that provides a variety of financial goods and services, including student loan refinancing.

The broader market is selling off Thursday on the heels of the ADP National Employment Report, which showed that the labor market remains tight and raised the chances for a 0.25% interest rate hike in July.

SoFi announced a conference call to discuss financial and operating results for the second quarter of 2023 on Monday, July 31 at 8 a.m. Eastern Time. SoFi also plans to release its second quarter 2023 results on the investor relations section of its website  at approximately 7 a.m. Eastern Time on Monday, July 31.

SOFI shares have considerable short interest with over 15% of available shares currently being sold short, according to data from Benzinga Pro.

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SOFI Price Action: According to Benzinga Pro, SoFi shares are trading 3.85% lower at $8.05 at the time of publication.

Image: satheeshsankaran from Pixabay

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