BASE - Hot Stocks: Fintechs drop; PTON sets low; BASE rallies on earnings news; PAGS falls; RENN sets high

Another choppy session descended into a selling spree on Thursday, with a late slide leaving the major U.S. equity averages sharply lower at the close. The Nasdaq led the retreat, falling by 2.8%. Fintech stocks were among the big decliners on the session. The sector was pressured by general risk-off sentiment and worries about increased competition from Apple. The decline pulled down names like Affirm Holdings (AFRM), Block (SQ), SoFi Technologies (SOFI), Upstart Holdings (UPST) and PayPal (PYPL). Elsewhere in fintech, Brazil-based PagSeguro Digital (PAGS) lost nearly a quarter of its value following the release of quarterly results. Meanwhile, the general downward pressure took beaten-down former pandemic darling Peloton Interactive (NASDAQ:PTON) to a new 52-week low. Looking at some of the day's gainers, Couchbase (BASE) posted a double-digit percentage gain, bolstered by the release of strong financial figures. At the same time, the approval of a legal settlement sent Renren

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Hot Stocks: Fintechs drop; PTON sets low; BASE rallies on earnings news; PAGS falls; RENN sets high