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Why SoFi Stock Spiked This Week

TheMotleyFool

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Shares of the fintech company SoFi Technologies (NASDAQ: SOFI) jumped this week after Politico reported that the Trump administration is considering selling some of the $1.6 trillion in federal student loan debt to the private market.

SoFi has a large student loan refinancing business and has said recently that if the federal government backed away from student loans it could potentially be a very good thing for its business. As a result, SoFi stock was up by 14.7% this week, as of 10:33 a.m. ET on Friday.

Image source: Getty Images.

Source Fool.com

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