FRHC - Upstart Grab SoFi top week's financial gainers NuBank Woori drop
Three fintech names topped the biggest gainers in the week's financial stocks, with Upstart Holdings (NASDAQ:UPST) rising the most, +17%, only partly recovering from the week before when it plunged 55% on disappointing earnings. The financial stocks that advanced bucked the market's overall trend as the S&P 500 (SP500) fell 3.1% for the week and the Financial Select Sector SPDR EFT (XLF) slipped 1.6%. Grab (NASDAQ:GRAB), the app that combines financial services, deliveries, and ride-sharing, gained 14% for the week ended May 20 after issuing strong revenue guidance of the year and posting a better-than-expected top line in its Q1 results; Fintech stock SoFi Technology (NASDAQ:SOFI) climbed 11% after an upgrade at Piper Sandler and its CEO bought 390K more of the company's shares; Auto insurer Hagerty (HGTY) rose 11%; and Life insurance firm American Equity Investment Life (AEL) advanced 11% during the week. The five biggest financial decliners is a mix of companies that includes two insurance firms. Brazil-based
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Upstart, Grab, SoFi top week's financial gainers, NuBank, Woori drop