SoFi Investors Just Got Great News From JPMorgan Chase and Goldman Sachs
The big banks' success should trickle down to the smaller banks.
Overview
It's been a rough year for SoFi Technologies (NASDAQ: SOFI) shareholders. The stock is down 34% year to date in a thriving bull market.
But as the second-quarter earnings report approaches, investors got excellent news from the big banks, including JPMorgan Chase and Goldman Sachs. Bank stocks in general tend to move as a group, and the good news should trickle down to SoFi as well. Here's what's happening.
Details
The main growth driver for both JPMorgan Chase and Goldman Sachs was investment banking. Both companies reported strong growth in the segment: 55% for Goldman Sachs and 45% for JPMorgan Chase.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.