Why SoFi Stock Is Soaring This Week

Following negotiations, a provision to end the temporary moratorium on federal student loan payments and interest accrual has been included in the bill. The development could kick-start SoFi's performance later this year, and investors have responded by bidding up the stock. The debt ceiling bill deal has been passed in the Republican-controlled House of Representatives, and it will very likely now pass in the Democrat-controlled Senate before being signed by President Biden.