- With markets in a risk-on mood after six straight sessions of risk-off, fintechs are gaining in Wednesday afternoon trading. The Global X FinTech Thematic ETF ( NASDAQ: FINX ) has risen 2.9% at 2:41 PM ET. That's after a 56% decline over the past year.
- Many notching the biggest gains are retail-related fintechs. Block ( NYSE: SQ ), up 5.5% , had the full roll-out of its tap to pay on iPhone feature to its Square POS system on Wednesday.
- Also Affirm Holdings ( NASDAQ: AFRM ), a Buy Now Pay Later fintech, increased 5.9% , Lightspeed Commerce ( NYSE: LSPD ) jumped 8.8% , and PayPal ( NASDAQ: PYPL ) rose 5.0% .
- Blend Labs ( NYSE: BLND ), which provides a lending platform to banks and financial institutions, has increased 6.7% . On Tuesday, PNC ( PNC ) said it's using the company's lending platform for the mortgage application process.
- Last week, proptech stocks suffered during the overall market selloff.
For further details see:
Affirm, Block, Lightspeed shares lead fintech stocks higher as investors buy the dip