Along with everything else, war brings uncertainty to stock markets.
That might seem a bit of a trite sentiment when blood is being spilled. But it’s true, nonetheless.
As the world watches war unfold in Ukraine, the last several days since our inaugural FinTech IPO Tracker have been volatile, to say the least. Among the most volatile sectors have been technology and financial services. To that end, the PYMNTS FinTech IPO Tracker, which meets at the intersection of finance and tech, has underperformed broader indexes.
Through Feb. 23, the overall IPO index reading stands at a bit more than 66, well off lifetime highs of more than 171, reflecting the double-digit percentage point declines in several stocks so far this year.
In fact, the average return among the 46 companies that we track, as measured since their IPO, has been a bit more than -27%. That means that a vast majority of FinTechs that have debuted on markets since the pandemic took root … are busted IPOs.
In fact, among the whole roster, we find only a half-dozen names that are in the black. And some outsized gains…
