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.
Shares of SoFi rose sharply after the quarterly earnings release, only to give those gains back in the following days.
GasLog Partners and Lending Club are part of the Zacks Bull and Bear of the Day article.