2 Fintech Stocks to Buy After Losing Over Half Their Value
Last year, many fintech stocks rallied to record highs as investors expected the Federal Reserve to finally cut its benchmark rates and spur more lending and fresh economic growth. But this year, many of those stocks collapsed as the Iran war, inflation, and other macro headwinds drove the Fed to actually raise interest rates for the first time in three years in September. SoFi (NASDAQ: SOFI) and Circle (NYSE: CRCL) were two of those fintech stocks that lost over half their value during that market pullback. Let's see why investors dumped these two high-growth stocks, and why they might be worth nibbling on as turnaround plays. Image source: Getty Images. Continue reading