Despite consumer credit concerns, Benchmark Managing Director Mark Palmer initiated coverage on five fintech stocks — one of which is Block (SQ) — with Buy ratings. Palmer joins Yahoo Finance Live to discuss why fintech is "a stock picker's sector" right now.
Palmer says fintech valuations are disconnected from growth prospects currently. However, firms "well-positioned to help consumers during a difficult time" in this economy will continue adding sustainable value and see stock boosts.
Palmer highlights Block — which owns Cash App and Afterpay — for prioritizing top-line growth as investors seek profitability, which the company is pivoting more towards.
#youtube #findtech #stockmarket
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Palmer says fintech valuations are disconnected from growth prospects currently. However, firms "well-positioned to help consumers during a difficult time" in this economy will continue adding sustainable value and see stock boosts.
Palmer highlights Block — which owns Cash App and Afterpay — for prioritizing top-line growth as investors seek profitability, which the company is pivoting more towards.
#youtube #findtech #stockmarket
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance