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Search resuls for: "FINX"


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Fintech stocks have been in a rut since 2021. Wolfe Research technical strategist Rob Ginsberg pointed out the Global X FinTech ETF (FINX) is close to reaching the $30 level for the first time since 2022. The FINX ETF illustrates this well. This year, the ETF has made some progress, rising more than 9%, as the Fed begins its policy easing campaign. FINX mountain 2021-11-01 FINX since Nov. 2021 A breakout could have broader implications outside of fintech.
Persons: Wolfe, Rob Ginsberg, It's, Tim Long, HPE Organizations: Wolfe Research, Federal Reserve, Fed, Dow Jones, CNBC, New York Stock Exchange, Barclays, Hewlett Packard Enterprise, Juniper Networks Locations: fintech
Technical analyst Rob Ginsberg said in a note to clients Wednesday that the Global X FinTech ETF (FINX) looks attractive after a long period of underperforming the broader market. "Now that we're past much of the big bank earnings, there are a number of fintech and financial service names on the docket this week and next. FINX 5Y mountain The FINX ETF has shown early signs of a rebound in 2024. Ginsberg wrote that the ETF has some positive technical signals of its own. To be sure, earnings reports could prove to be a downside catalyst for financial technology stocks and the fund.
Persons: Rob Ginsberg, Ginsberg, — CNBC's Michael Bloom Organizations: titans, Wolfe Research, Paypal Locations: Fintech, FINX
While hedge fund Muddy Waters revealed a bet against payment processor dLocal , other short sellers appear to be eyeing several fintech companies. S3 Partners examined 66 stocks in the FINX fintech ETF for CNBC Pro and found $15.25 billion betting against the basket of stocks in total. Others might see structural headwinds for a company before it is fully reflected in the share price. Coinbase had a total of 27.53 million shares – or 18% of free-floating shares – betting against the share price. The fintech company, led by Twitter's co-founder Jack Dorsey, has seen its shares decline by 56.94% over this year.
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