The Global X Fintech ETF and ARK Fintech Innovation ETF, for example, dropped 52% and 65% last year, respectively. The losses are likely attributed to rising interest rates and a dramatic contraction of pandemic-era growth, notes the report.
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As Rates Spiked, Fintech Investors Hemorrhaged Cash in '22
Fintech stocks had a particularly rough 2022, underperforming compared to traditional tech and finance companies. So reports The Wall Street Journal.
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