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FinTech IPO Index drops 1.9% with OppFi leading post-earnings decliners.

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TLDR:

  • The FinTech IPO Index dropped 1.9% as inflation data suggested no immediate rate cuts.
  • Paymentus and Paysafe saw gains, while OppFi and Doma experienced declines.

The FinTech IPO Index saw a 1.9% decrease as investors reacted to inflation data indicating that rate cuts may not happen soon. Paymentus saw a 27% surge post-earnings, driven by increased transactions and revenue growth. Paysafe reported higher volumes and revenues, leading to a 4.9% increase in shares. Riskified launched Auth Rate Enhance to boost authorization rates and prevent fraud, causing a 2% dip in shares. On the downside, OppFi’s earnings release led to a 33% drop in shares despite improving net charge-off rates and revenue increase. Doma stock sank 20% post-earnings, even though revenue and retained premiums grew sequentially. Analysts remain cautiously optimistic about the future performance of these FinTech companies amid market uncertainties.

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