Chime Financial, Inc. (NASDAQ: CHYM) saw a significant increase in stock performance, with a 9.10% jump on Wednesday to $26.50 per share, following the Federal Reserve’s last interest rate cut of the year.

The US central bank’s 25-basis point rate cut in their final open market committee meeting of the year sparked investor optimism, leading to potential growth in consumer spending and transaction volumes for Chime Financial, Inc. (NASDAQ: CHYM).

Chime Financial, Inc. (NASDAQ: CHYM) recently announced changes in its leadership, with Chief Operating Officer Mark Troughton promoted to president, Janelle Sallenave as the new COO, and Vineet Mehra as the chief growth officer.

CEO Chris Britt of Chime Financial, Inc. (NASDAQ: CHYM) commended the leadership changes, highlighting the team’s role in the company’s successful product expansion, focus on AI, and brand momentum, positioning them for continued growth and success.

As Chime Financial, Inc. (NASDAQ: CHYM) continues to expand, CEO Chris Britt expressed confidence in the company’s momentum and impact on members’ financial lives, emphasizing the team’s ability to drive results and build a generational company.

Read more at Yahoo Finance: Chime Financial (CHYM) Soars 9% on Rate Cut Cheer