- SoFi Technologies, Inc (NASDAQ:SOFI) stock is down Friday as the Senate cleared the debt ceiling bill with 63 votes in favor of the legislation and 36 against it.
- The CARES Act passed in March of 2020, allowed a pause on student loan repayments. The current debt ceiling deal would terminate this pause, and repayments must resume on August 29, 2023.
- The student loan refinancing firm prosecuted the government to end the pause earlier this year.
- Through student and personal loans, the company aimed to provide a “relationship bank” for individuals battling surging education costs, stagnant wages, and unaffordable housing.
- This week, CEO Anthony Noto flagged challenges individuals face, like surging education costs, stagnant wages, and unaffordable housing in pursuing the American Dream at a JPMorgan investor conference.
- The rising cost of education has left many graduates trapped in a cycle of debt, says Noto.
- Through student and personal loans, the company aimed to provide a “relationship bank” for these individuals to unlock their financial potential.
- Price Action: SOFI shares traded lower by 1.17% at $6.74 on the last check Friday.
Morgan Stanley Maintains Overweight on Farfetch, Lowers Price Target to $26
Morgan Stanley analyst Lauren Schenk maintains Farfetch (NYSE:FTCH) with a Overweight and lowers the price target from $32 to $26.
