FOUR - Shift4 and Amazon Team Up for Checkout-Free Shopping: What Investors Need to Know
2023-10-06 08:15:00 ET
On Sept. 28, financial technology (fintech) company Shift4 Payments (NYSE: FOUR) partnered with e-commerce giant Amazon (NASDAQ: AMZN) to provide checkout-free shopping at stadiums. The technology has already been deployed at United Center, home of the Chicago Bulls.
The Shift4 news caught my eye because I believe it's a stock-picker's market for fintech companies . Here's why: The entire fintech sector is down right now. And when an entire sector of the stock market sells off, good companies often get thrown out with the bathwater.
For evidence of the general decline in fintech stocks, consider the exchange-traded fund ( ETF ) Global X FinTech ETF (NASDAQ: FINX) . This ETF specializes in fintech stocks. Over the last three years, it's down nearly 50%, whereas the S&P 500 is up around 27% over this same time.
For further details see:
Shift4 and Amazon Team Up for Checkout-Free Shopping: What Investors Need to Know