The market has gotten off to a lackluster start in 2022. Investors are concerned about inflationary pressures, the looming arrival of rising interest rates, and now a major geopolitical conflict disrupting the economic recovery even as the primary headwinds of the pandemic begin to dissipate.
In a market that is, broadly speaking, in a correction, growth stocks as a group have been hit the hardest. Since the year began, the iShares S&P 500 Growth ETF has lost 18% compared to the S&P 500‘s 12% decline. However, many growth stock names in the fintech space have been selling off for even longer.
Three fintechs that have declined by 49% or more from their 52-week highs are Coinbase Global ( COIN -7.46% ), Upstart Holdings ( UPST -11.20% ), and Block ( SQ -6.38% ).
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1. Coinbase Global
Investors interested in the cryptocurrency space would find Coinbase Global a solid choice. It provides the infrastructure for people to trade cryptocurrencies and build decentralized applications. At the end of 2021, its platform had 89 million…
