The FinTech IPO Tracker continues to underperform the broader indices, as measured year-to-date – a downtrend only recently interrupted, briefly, amid a broad-based rally in tech stocks.
To get a sense of the bump: The index reached an all-time nadir of about 57 this week and closed most recently at a bit above 59 as of the 16h of March.
That “step-up” came as every single one of the 44 names that we track surged in Wednesday’s trading action, with at least one macro underpinning: the Fed raised rates for the first time since 2018. Wall Street seemed to breathe a sigh of relief, bid stocks up and prepare to move on.
Earnings Results Continue
DLocal surged 27% in the wake of earnings results, where earlier this week, the company reported earnings that detailed a 145% gain…