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Key takeaways
- Fintech stocks have performed worse than financial and technology companies in the past year as consumer spending habits shift due to inflationary pressures.
- As the pandemic-related e-commerce boost fades, the reality is setting in for many of these companies.
- Even though the fintech space was beaten down in 2022, some companies in this space could turn business around in 2023.
It’s almost impossible to read about the stock market in 2022 without seeing how much some of the biggest public companies have dropped in value. Tech giants like Apple and Microsoft have seen share prices dwindle while soaring inflation and aggressive rate hikes have led to concerns over a potential recession. Despite the terrible results in the tech space, the fintech space has managed to have a worse year.
Companies in the financial-tech space became popular because they brought innovation to the classic business models of lending, investing and payment processing. However, fintech stocks have performed poorly and done worse than both financial stocks and tech…
