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Why Fintech Stocks Marqeta, Affirm, and LendingClub Are Ripping Higher Today

Why Fintech Stocks Marqeta, Affirm, and LendingClub Are Ripping Higher Today

Shares of fintech stocks Marqeta (NASDAQ: MQ), Affirm (NASDAQ: AFRM) and LendingClub (NYSE: LC) were rallying big on Thursday, up a whopping 17.5%, 22.1%, and 13.8% as of 10:44 a.m. EDT, respectively. It wasn't hard to figure out why: Today's inflation report came in cooler than expected, a welcome change from the hotter-than-expected prints we've been used to seeing this year. Lower inflation figures could mean the Fed will slow or even stop its aggressive interest rate hikes, which have been wreaking havoc on financial markets and especially newer and smaller financial stocks such as these three.