Why Shares of OppFi Are Rising Today
Shares of the digital subprime lender OppFi (NYSE: OPFI) had jumped as much as 23.5% as of 11:45 a.m. ET on Monday for no obvious reason, before giving up some of those gains. The stock traded about 10% higher as of 2:10 p.m.
While there is no obvious reason for the move, there are a few potential explanations. The company is set to release earnings results for the first quarter of 2022 later this week, and CEO Todd Schwartz recently made comments that suggest the results may be good. Investors also may view the stock as a short-squeeze candidate.
Investors might be getting ahead of what they believe will be a positive earnings report Thursday. Today, in an article in The Wall Street Journal, Schwartz said that the strong loan-origination volume seen in the fourth quarter of 2021 has continued into 2022.
Source Fool.com
