The FinTech industry has experienced significant growth in recent years, but it is has not been immune to economic headwinds. In fact, rising interest rates, high inflation, and lower consumer spending have led to a sharpened focus on belt-tightening among venture capital (VC) investors in...
The FinTech IPO Index slid 2.8%, as earnings continued to come in, particularly from companies based overseas. Katapult shares led to the downside through the past five sessions, with shares down 23% during that time. The company said in its most recent earnings announcement earlier in...
At first glance, it might seem incongruous to mention the PYMNTS FinTech IPO Index and banks and M&A in the same sentence. The index itself is up 32% year to date. And so the logic might follow that if stock is currency on Wall Street —...
Seemingly everywhere you looked this past week, earnings were the sole arbiter of how stocks performed. And no matter the earnings, almost across the board, the performance was decidedly to the downside. The FinTech IPO Index sank 6.6% through the past five sessions, led by...
The platforms held sway this past week, gaining some ground ahead of earnings due through the next several days. And as a result, the FinTech IPO Index was up 0.5% across the past five trading sessions. As for the platforms themselves, Beike Finance gained 17.5%,...
This past week might be titled “The Great Platform Rally of 2023.” The FinTech IPO Index surged 11.9% through five sessions, led by double-digit gains in all manner of platform firms serving a variety of verticals. Year to date the index has soared 41.1%. And...
The job numbers came in hot. The Fed looks set to raise rates. And the interest rate-sensitive names in the FinTech IPO Index took a bit of a hit. In a holiday-shortened trading week, the index limped into Friday down a bit more than 1%,...
The platforms surged — many of them anyway. And yet the FinTech IPO Index was up a muted 1.5% headed into the end of the second quarter and headed into a trading week that will be shortened by the July Fourth holiday. Opendoor was up...
Government data pointing to cooling inflation helped buoy FinTech IPO names this past week. Retail sales data Thursday (June 15) showed that consumer spending remains resilient, which helped give the rally some tailwind. For the month of May, retail sales were up 0.3% compared to...
