OWL - More financial stocks drop than rise in the last five sessions
This week's financial gainers/losers tilted more toward the losers amid an overall down week for the broader stock market. In other words, for the past five sessions (which includes the Friday, Sept. 3), the five biggest decliners fell more than the five biggest gainers rose. And more stocks fell than rose. Out of 326 stocks, 274 were in the red. For financial stocks with at least $2B market cap, bitcoin miner Marathon Digital (NASDAQ:MARA) fell the most, dropping 15% for the five-session stretch. During that period, bitcoin fell 9.6%, and currently stands at ~$44.5K. Earlier this week, Standard Chartered made the case that bitcoin could still reach $100K by early 2022. Chinese fintech Lufax (NYSE:LU) slides 11% for the week even as regulatory fears for fintech companies appear to ease in China; Specialty P&C insurance firm Kinsale Capital (NASDAQ:KNSL) drops 11%; After appearing in last week's top five gainers, subprime auto lender Credit Acceptance
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More financial stocks drop than rise in the last five sessions