Fintech
3 Struggling Fintech Stocks to Watch
Fintech Stocks Struggled on the Charts in 2024
Fintech stocks are fascinating because of their sensitivity to artificial intelligence (AI) developments or Big Tech partnerships. But for most of 2024, the industry’s big boys have been asleep at the wheel. While many of the high-profile stocks are in the red, fintech is still a sector to watch every month or so to see if entry points are too good to pass up.
One of the originals fintech stocks, PayPal Holdings Inc (NASDAQ:PYPL)was last seen down 0.8% at $57.57. Shares are trading at their lowest level since February and have closed 12 of the last 15 trading sessions lower. Year to date, PYPL is down 6.3%.
Block Inc (NYSE:SQ) is another OG that has fallen on hard times, down 18.3% in 2024. Shares are down another 2% today and, at $63.10, have been trading in a tight range since a bearish gap on May 22. The stock’s 30-day moving average has led SQ lower since April 1.
Affirm Holdings Inc (NASDAQ:AFRM) has taken a 39.2% haircut in 2024, carving out a channel of lower lows from their December 27 two-year high of $52.48. However, AFRM remains up 94% over the past 12 months.