Affirm, Block, Lightspeed shares lead fintech stocks higher as investors buy the dip
peshkov


With markets in a risk-on mood after six straight sessions of risk-off, fintechs are gaining in Wednesday afternoon trading. The Global X FinTech Thematic ETF (NASDAQ:FINX) has risen 2.9% at 2:41 PM ET. That's after a 56% decline over the past year.

Many notching the biggest gains are retail-related fintechs. Block (NYSE:SQ), up 5.5%, had the full roll-out of its tap to pay on iPhone feature to its Square POS system on Wednesday.
Also Affirm Holdings (NASDAQ:AFRM), a Buy Now Pay Later fintech, increased 5.9%, Lightspeed Commerce (NYSE:LSPD) jumped 8.8%, and PayPal (NASDAQ:PYPL) rose 5.0%.
Blend Labs (NYSE:BLND), which provides a lending platform to banks and financial institutions, has increased 6.7%. On Tuesday, PNC (PNC) said it's using the company's lending platform for the mortgage application process.
Last week, proptech stocks suffered during the overall market selloff.