Shares of SoFi Technologies, Inc. SOFI are trading higher Monday as stocks rise following Fed President Powell‘s discussion and a result of investors assessing the impact of the attempted assassination of former President Trump.
The assassination attempt has been seen as potentially favorable to the Trump campaign. One specific policy aspect that has caught the market’s attention is Trump’s stance on student loan forgiveness programs. The report from CNBC says that Project 2025 proposes cuts to these programs, which would directly benefit financial institutions like SoFi that offer private student loans and refinancing options.
Another crucial element is the discussion around Project 2025, a comprehensive policy proposal developed by The Heritage Foundation in collaboration with over 100 conservative organizations. Project 2025 aims to overhaul the federal government and implement sweeping policy changes. Some of these proposals could benefit financial institutions, such as potential tax cuts for high-income investors and changes to capital gains taxes.
SOFI Price Action: SoFi technologies shares were up by 5.95% at $7.38 according to Benzinga Pro.
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