Fintech stocks like Robinhood Markets (NASDAQ:HOOD) +24%, Affirm (NASDAQ:AFRM) +24% and Canada’s Lightspeed Commerce (NYSE:LSPD) +27% are soaring in Friday midday trading, erasing most losses incurred over the past week amid a broader risk-on sentiment.
Looking at the fintechs individually, financial services platform Robinhood (HOOD) is catching bids intraday as investors weigh a recently disclosed 7.6% stake from Samuel Bankman-Fried, the founder of cryptocurrency exchange FTX.
As for Buy Now, Pay Later platform Affirm (AFRM), shares are regaining some ground after it lifted its full-year profit guidance and also extended its partnership with Shopify (SHOP). Take a look at SA contributor Michael Wiggins De Oliveira’s bearish take on Affirm.
Other fintechs: PayPal (PYPL +6.0%), LendingClub (LC +8.9%), Block (SQ +10.6%), Fiserv (FISV +3.8%), Rocket Companies (RKT +5.8%), Blend Labs (BLND +23.9%), Paysafe (PSFE +17.2%), SoFi Technologies (NASDAQ:SOFI +19.4%) and Dave (DAVE +27.8%).
Earlier, consumer sentiment slid more-than-expected in May.