SoFi and Upstart each remain down 33% year to date despite Wednesday's rally, as falling Treasury yields rather than any company news drove the 6 to 8% fintech rebound.
FINX sits down 12% year to date, and Upstart's 0.6% fund weighting means even an 8% single-day surge barely registers at the portfolio level.
Act now: the **** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Affirm didn't make the cut. Grab the names FREE today.
Fintech names are rebounding at midday Wednesday. SoFi Technologies (NASDAQ:SOFI) stock is up 6% to $18.66, Upstart Holdings (NASDAQ:UPST) stock is up 8% to $31.58, and Affirm Holdings (NASDAQ:AFRM) stock is up 7% to $78.55. The move follows a sharp retreat in long-end Treasury yields.
The Treasury Department stated it would increase buybacks of long-dated government debt "by at least double" for securities from the 10-year to 30-year sector. The 10-year Treasury yield fell 5 basis points to 4.65%, and the 30-year yield declined 8 basis points to 5.2% after hitting its highest level since 2007 earlier this week.
#year #NASDAQ #Stock
FINX sits down 12% year to date, and Upstart's 0.6% fund weighting means even an 8% single-day surge barely registers at the portfolio level.
Act now: the **** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Affirm didn't make the cut. Grab the names FREE today.
Fintech names are rebounding at midday Wednesday. SoFi Technologies (NASDAQ:SOFI) stock is up 6% to $18.66, Upstart Holdings (NASDAQ:UPST) stock is up 8% to $31.58, and Affirm Holdings (NASDAQ:AFRM) stock is up 7% to $78.55. The move follows a sharp retreat in long-end Treasury yields.
The Treasury Department stated it would increase buybacks of long-dated government debt "by at least double" for securities from the 10-year to 30-year sector. The 10-year Treasury yield fell 5 basis points to 4.65%, and the 30-year yield declined 8 basis points to 5.2% after hitting its highest level since 2007 earlier this week.
#year #NASDAQ #Stock
2 days ago
