By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
8/24/16 Analysis – NASDAQ Fintech Index (KFTX)
Giving some back. Slow trading and slow volume day with the KFTX closing at 1035.13, DOWN -.0.34%. The KFTX’s forty nine stocks are isolated to the fintech sector and today only 14 of those little techies closed up, one unchanged and (oh no) 33 went down.
Looking closer, only three issues (ACIW, LC & SSNC) had intraday moves of 3% or more and only LC managed to beat our 3% bar on the close. Not to get too excited, but LC’s $.20 move equals 3.82% and certainly not enough to pay the mortgage.
Other big point movers include ADS (-$3.32), FLT (-$2.42) and……….well, that’s it. Big moves Friday (at least in the morning) on Yellen speak? Need some wake up.