The US Supreme Court recently agreed to hear the Biden Administration’s plan concerning the student loan forgiveness program. This can significantly affect companies like SoFi Technologies (NASDAQ: SOFI) who provide education loans to university students. Unfortunately, SOFI stock was hanging low in the market, trading at its all time low.
S&P and NASDAQ Influencing SoFi Technologies
The share fell over 4% to reach $4.32 at the publication time. The plunge does not have any correlation with any company news, as there was none in the market. Though NASDAQ and S&P 500 fell by more than a percent, delivering a direct effect on companies.
Sofi Technologies operates in multiple businesses including crypto, lending, investing and more. In 2013, it landed a deal with Barclays and Morgan Stanley to create bond backed P2P loans. It joined forces with Coinbase to offer a crypto trading platform which allows users to trade virtual assets like BTC, ETH, LTC and more.
Currently, the stude
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