By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
11/8/16 Daily Closing Analysis – NASDAQ Fintech Index (KFTX)
Fintech voted down. With all the other major market indexes moving higher on election winner perceptions, the NASDAQ fintech index defied those up moves and settled lower on the day. Does the KFTX know something the other averages don’t? Nah, it just decided to close lower by 3.48 points at 1013.28 off 0.34%.
Let’s take a look at the stocks in the KFTX that had the biggest change (2 points and/or 3%) on this election Tuesday:
ADS -2.24 (201.55)
ENV -1.30 (32.75) -3.82% against issue
FICO -2.71 (114.82)
JKHY +2.12 (83.87)
MKTX +2.09 (155.21)
RATE -.30 (8.85) -3.28% against issue
So, a mixed bag with 25 issues up, 23 down and 1 unchanged.
Tomorrow the election results will be in (if not…….watch out) and the fintech market index will be back to………..?? Not much in the way of “real news” the rest of the week so maybe it all goes back to boring? Or not. Have a good evening.