By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
10/26/16 Daily Closing Analysis – NASDAQ Fintech Index (KFTX)
Fintech drops. Not surprising I guess since markets have been on a roller coaster (with rough tracks) for quite some time now. Up/down/up/up/up/down/down/etc. Boring with flashes of exuberance or panic. Enough already. Anyway, the NASDAQ KFTX fintech index lost 4.16 points closing at 1017.98 (-0.41%) and getting ready to test the lows of last week.
There were five (5) stocks with an intraday move of 3% today. The losers pared their loss and the “uppers” kept their gains. Starting with (gasp, again) LC off .14 to 4.76 (-2.86%); NDAQ down 1.67 to 64.69 (-2.52%)…..no, not our KFTX namesake; TSS up 2.73 at 50.96 (+5.66%)……earnings & revenue MISS and its up, go figure; VNTV up 2.01 to 59.59 (+3.49%); and WU off .57 at 19.79 (-2.80%).
Lets peek at the big (+/- 2points) movers and shakers; TSS (50.96) +2.73; and VNTV (59.59) +3.49%. The interesting thing is the ones moving have a reason to move. Others? They are quiet.
So, same old same old for the rest of the week. Maybe Halloween will shake things up. BOO!!!! Have a pleasant evening and Go Cubs.