Fintech Stocks Rebound Amid Declining Treasury Yields
On Wednesday, fintech stocks SoFi Technologies (NASDAQ:SOFI), Upstart Holdings (NASDAQ:UPST), and Affirm Holdings (NASDAQ:AFRM) rose by approximately 6%, 8%, and 7% respectively. The rebound was driven primarily by a decline in long-end Treasury yields rather than company-specific news, with the 10-year yield falling to 4.65%. Lower rates typically benefit consumer lenders and high-growth stocks, which explains the sector-wide rally. Despite Wednesday's gains, all three companies remain down significantly year-to-date—SOFI and UPST by about 33%, while FINX is off nearly 12% through Tuesday’s close. SoFi reported a record second-quarter revenue of $1.2 billion alongside adjusted net income growth of 65%. Management forecasts continued earnings per share (EPS) growth at an annualized rate from 2025 to 2028. Upstart and Affirm also saw gains, though their year-to-date performance varies significantly—Affirm has only declined by about 1% compared to its peers. The ETF Global X FinTech (NASDAQ:FINX) remains down for the year but shows a more balanced options positioning than some individual names.
Tickers: $AFRM $FINX $SOFI $UPST
Topics: fintech stock_prices treasury_yields