Fintech stocks rallied Friday, driven by Bitcoin's breakout which boosted retail brokerages and crypto-linked fintech firms. Robinhood Markets led with a 13% gain due to its direct crypto transaction revenue, followed by SoFi Technologies up 5% with secondary crypto exposure. Affirm Holdings rose 2%, reflecting its limited crypto involvement. The Global X FinTech ETF gained 3%, reflecting mixed exposure across the sector. Investors should watch if the crypto-driven rally sustains, especially in Robinhood, which is most sensitive to Bitcoin movements. Position sizing is advised due to the volatility and potential for quick reversals in crypto-related trades.
For those building retirement savings, investing through 401(k)s, IRAs, or brokerage accounts is best for long-term growth due to tax advantages and compounding. Fidelity, Charles Schwab, and SoFi are top brokers offering low fees and strong investme...
Jim Cramer criticized analysts' overenthusiasm for a few fintech stocks—SoFi, Klarna, and PayPal—calling for patience until these stocks drop before recommending them. Despite strong earnings, these fintech names have struggled with price declines du...
Fintech stocks like SoFi Technologies, Upstart Holdings, and Affirm Holdings rose sharply midday Wednesday following a decline in long-term Treasury yields. The U.S. Treasury announced it would double buybacks of long-dated government debt, causing 1...
Kraken, a major crypto exchange, has introduced the Krak Card, a U.S. debit card that offers up to 2% cash or bitcoin back, with rewards paid directly as money rather than points. The card allows spending from over 600 currencies and crypto assets, c...
SoFi Technologies reported strong Q2 results with revenue up 42.6% year-over-year to $1.22 billion, driven by rapid innovation and robust membership growth reaching a record 15.81 million. This growth fuels increased product usage per member and new ...
