The Motley Fool highlighted a 44% rally in Chime Financial stock during August. This surge followed a second-quarter earnings report that exceeded growth and profitability expectations.
Revenue grew 27% year-over-year to $670 million. The company reported positive earnings of $0.07 per share. This performance marks a significant turnaround from the loss recorded during the same period last year.
The Public Employees Retirement System of Ohio established a new position in the fintech company. The institutional investor acquired 74,052 shares for a total investment of $1.52 million.