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Sept. 13, 2022, 11:15 a.m. EDT

Fintech stocks Upstart, Affirm, Block hit hard in market rout as persistent inflation continues

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By Emily Bary

Financial-technology stocks are among the biggest losers in the tech sector Tuesday after the August consumer-price index showed a surprise monthly increase, even as the year-over-year growth rate dropped to 8.3% from 8.5%. Shares of artificial-intelligence lending company Upstart Holdings Inc. /zigman2/quotes/223096209/composite UPST +1.81% are off 9.3% in Tuesday morning trading, while shares of buy-now-pay-later operator Affirm Holdings Inc. /zigman2/quotes/223715966/composite AFRM +1.83% are down 8.9%. Shares of cryptocurrency exchange Coinbase Global Inc. /zigman2/quotes/225893452/composite COIN +1.41% are down 7.3% Tuesday, and shares of Square-parent Block Inc. /zigman2/quotes/205989440/composite SQ +1.21% are off 7.0%. Shares of more established payment-technology names were seeing smaller losses Tuesday, with Visa Inc.'s stock /zigman2/quotes/203660239/composite V -1.04% off 2.4%, Mastercard Inc.'s stock /zigman2/quotes/207581792/composite MA -0.42% off 2.8%, and PayPal Holdings Inc.'s stock /zigman2/quotes/208054269/composite PYPL -2.87% down 2.0%. The Global X Fintech ETF /zigman2/quotes/204444830/composite FINX -0.31% is off 4.1% Tuesday morning.

/zigman2/quotes/223096209/composite
US : U.S.: Nasdaq
$ 18.60
+0.33 +1.81%
Volume: 4.03M
Nov. 29, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.50 billion
Rev. per Employee
$668,256
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/zigman2/quotes/223715966/composite
US : U.S.: Nasdaq
$ 12.81
+0.23 +1.83%
Volume: 12.30M
Nov. 29, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.65 billion
Rev. per Employee
$564,863
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/zigman2/quotes/225893452/composite
US : U.S.: Nasdaq
$ 43.11
+0.60 +1.41%
Volume: 9.09M
Nov. 29, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.65 billion
Rev. per Employee
$1.36M
loading...
/zigman2/quotes/205989440/composite
US : U.S.: NYSE
$ 62.11
+0.74 +1.21%
Volume: 8.22M
Nov. 29, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$36.70 billion
Rev. per Employee
$1.99M
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/zigman2/quotes/203660239/composite
US : U.S.: NYSE
$ 209.06
-2.20 -1.04%
Volume: 8.99M
Nov. 29, 2022 4:00p
P/E Ratio
30.53
Dividend Yield
0.86%
Market Cap
$435.55 billion
Rev. per Employee
$1.11M
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/zigman2/quotes/207581792/composite
US : U.S.: NYSE
$ 343.13
-1.46 -0.42%
Volume: 1.72M
Nov. 29, 2022 4:00p
P/E Ratio
34.26
Dividend Yield
0.57%
Market Cap
$331.31 billion
Rev. per Employee
$900,833
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/zigman2/quotes/208054269/composite
US : U.S.: Nasdaq
$ 77.64
-2.29 -2.87%
Volume: 15.49M
Nov. 29, 2022 4:00p
P/E Ratio
39.48
Dividend Yield
N/A
Market Cap
$91.12 billion
Rev. per Employee
$865,405
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/zigman2/quotes/204444830/composite
US : U.S.: Nasdaq
$ 19.55
-0.06 -0.31%
Volume: 202,483
Nov. 29, 2022 4:15p
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