By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
10/3/16 Daily Closing Analysis – NASDAQ Fintech Index (KFTX)
Boring. Marking time. Whatever, the NASDAQ KFTX fintech index closed basically unchanged at 1038.93 up a whopping .38 (+0.04%). Nowheresville for sure.
A couple stocks did manage to stay awake today and zip up and down more than 3% intraday. BOFI closed down .70 to 21.70 (-3.12%); CATM jumped 3.54 to 48.12 (+7.94%) on news that they would buy Direct Cash in a $460M deal thus letting Cardtronics expand internationally; and RATE tacked on .27 to 8.75 (+3.18%). Thanks to those three issues for not napping.
Now, let’s see if we can find a few of the index’s stocks that had a +/- 2 point move. Wow, I found three; ADS +2.37 (216.90); CATM +3.54 (48.14)….see above; and FDS -2.65 (159.45).
So, here we are beginning the 4th quarter and the big event this week is Friday’s NFP number (174K est. vs 151K prior). Till then probably calm with a chance of panic (lots out in there in the real world). Have a super evening.