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Fintech names among week's biggest financial gainers; earnings drive biggest drops

July 29, 2023
Source: seekingalpha.com seekingalpha.com
News Snapshot:
Two Chinese fintech and a U.S. fintech dominated the biggest financial gainers this week as the financial sector essentially treaded water and the broader S&P 500 edged up 1%. The biggest decliners were all companies that reported earnings during the week. Hong Kong-based Futu Holdings (NASDAQ:FUTU) jumped 26% in the week ended July 28, making it the stock that logged the biggest increase among financial stocks with market cap over $2B. Chinese tech stocks rallied on Friday as Beijing signaled some willingness to enact policies to support tech growth. Upstart Holdings (NASDAQ:UPST), the U.S. company that offers a lending platform...
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