Chime shares jump after Stride deal boosts bank charter path
Chime shares surged 11% before the bell after agreeing to buy Stride for $590 million, citing a bank charter that would expand its lending business.
Chime shares rose 11% before the bell on Wednesday after the fintech firm agreed to buy Stride for $590 million, a move that would give it a bank charter and support expansion of its lending business. Over the past few years, Chime has emerged as a major challenger to traditional banks.