: SoFi stock falls in choppy trading after Supreme Court strikes down Biden debt-forgiveness plan

Shares of SoFi Technologies Inc. SOFI were searching for direction in volatile Friday morning activity after the Supreme Court struck down President Joe Biden’s plan to cancel up to $20,000 in student debt for many borrowers. Shares of the financial-technology and lending company, which has a prominent student-loan refinancing business, were off 2.6% in recent activity, after rising as much as 8.0% shortly after a volatility-driven trading halt that was put out shortly after the ruling’s release. SoFi’s student-lending business has come under pressure in recent years as measures such as the pause on student-loan repayments have dampened interest in loan refinancing. With SoFi shares up 40% over the past month and 83% so far this year, analysts have been hotly debating the magnitude of upside for the company’s student-lending business going forward.

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