Affirm, Block, Paysafe, Lightspeed stocks streak down further
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Fintech/payment stocks including Affirm Holdings (AFRM
-11.5%), Block (SQ
-4.0%), Paysafe (PSFE
-5.4%), and Lightspeed Commerce (LSPD
-4.9%) are finding no relief in Thursday trading. Before today's decline each of the stocks have dropped at least 36% over the past year, with Lightspeed (NYSE:LSPD) losing 79% of its value in the year ended Jan. 26 as seen in this graph.
One factor shared by the four stocks â they all have an SA Quant rating of at least Sell. Paysafe (NYSE:PSFE) has a Strong Sell. Two of the four have an average SA Authors' rating of Neutral, and all four have an average Wall Street rating of Buy.
Each rates poorly on the momentum grade and three of the four also get a "D" or worse grade on EPS revisions.
The fintech stocks' Thursday swoon may also be affected by Apple's (NASDAQ:AAPL) reported foray into the small- to midsized merchants' payments space, which would bring the tech giant into direct competition with Block's (NYSE:SQ) Square ecosystem, Paysafe (PSFE), and Lightspeed (LSPD). And while not in direct competition, Affirm (NASDAQ:AFRM)
unveiled its SuperApp for consumer finances yesterday.
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