Investing
Fintech Stocks Tumble Following Worldline’s Grim Outlook
© Reuters.
Shares of prominent fintech companies, including Affirm Holdings (NASDAQ:) Inc., Block Inc., and PayPal Holdings Inc (NASDAQ:)., witnessed a significant downturn on Wednesday, following a bleak forecast from Paris-listed Worldline SA. The payment processing company downgraded its outlook due to worsening conditions in Germany and a decrease in discretionary purchases, leading to a more than 50% fall in its shares.
Despite the widespread market reaction, Dan Dolev of Mizuho has argued that the response is exaggerated, particularly for U.S. payment-technology stocks with limited exposure to Germany and Europe. He suggests that the influence of Worldline’s negative outlook may be overstated for these firms.
His perspective aligns with Visa Inc (NYSE:).’s optimistic fiscal 2024 forecast, which dismissed the possibility of a recession and indicated optimistic results. The CEO of Visa demonstrated confidence about the economic status of the European Union (excluding the UK), describing it as resilient.
In contrast to Worldline’s pessimistic view, Visa’s upbeat forecast provides a contrasting perspective on the future of the fintech sector. The disparate forecasts highlight the uncertainty surrounding the industry’s future amidst fluctuating economic conditions globally.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here
-
Investing7 days ago
U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 1.37% By Investing.com
-
Personal Finance5 days ago
Social Security cost-of-living adjustment will be 2.5% in 2025, less than prior year
-
Side Hustles5 days ago
Oldest Children Like Bezos, Musk Have 2 Leadership Qualities
-
Investing7 days ago
AI Pioneers Win $1.06 Million, 2024 Nobel Prize in Physics
-
Passive Income7 days ago
How to Build a Workplace Culture Centered on Love, Abundance and Purpose
-
Passive Income5 days ago
4 Marketing Triggers to Set Up Now to Supercharge Your New Year
-
Investing6 days ago
JPMorgan Chase CEO Jamie Dimon: AI Will Take Over Some Jobs
-
Investing5 days ago
BMW and Mercedes quarterly sales drop on weak China By Reuters