On September 10, Chime Financial, Inc. declined 5.41% in regular trading, trading at $32.70 per share with turnover of $28.19 million, giving back a significant portion of the prior session's gains following the announcement of its $590 million cash acquisition of Stride Bank.

Chime had surged over 9% on September 9 after revealing the deal, which will see Stride renamed Chime Bank, N.A. and become a wholly owned subsidiary. The company simultaneously raised its Q3 revenue guidance to $705 million and full-year revenue guidance to $2.76 billion to $2.77 billion. The transaction is expected to be immediately accretive to earnings per share, with over $100 million in net synergies from sponsor bank fee savings, expanded lending products, and lower cost of funds. Chime stated the acquisition will be funded entirely from existing cash reserves with no additional capital required.

Morgan Stanley noted owning a national bank charter should reduce Chime's reliance on partner banks and accelerate credit expansion, though a key risk involves managing asset growth below the $10 billion Durbin exemption threshold. Loop Capital initiated coverage with a Buy rating and a $45 price target. The pullback appears to reflect typical profit-taking after a sharp rally on a major corporate event.

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