By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
8/29/16 Analysis – NASDAQ Fintech Index (KFTX)
No stopping the fintech’s. Nope, ain’t gonna happen. Another up day for the NASDAQ’s KFTX fintech index posting a Monday 4:00pm close of 1044.45, up +1.55 points and +0.15%.
So, where was the “action”? Again, only three stocks had intraday moves of +/- 3% (BOFI, LC, & VIRT) with LC finishing up $.16 (+3%), VIRT down $.60 (-3.45%) and BOFI down over 3% in the morning but finishing up $.09 (+0.39%). Bofi Holding (BOFI) has been a tear the last month gaining over 40%. None of the 49 stocks closed with point gains of more than 2 points today.
Pretty subdued as all eyes look toward Friday’s job numbers.